India's Mazagon Dock Shipbuilders settle higher on Q1 profit surge

Cochin Shipyard

14/08/2024 11:06

** Shares of Mazagon Dock Shipbuilders  MAZG.NS  settle 3.4%
higher at 4,998.50 rupees
    ** Shipbuilding co's Q1 consol profit more than doubles to
6.96 bln rupees ($82.92 million), as raw material costs dip 23% 
    ** MAZG stock has more than doubled in 2024, but trails
other major shipbuilders     
    ** MAZG is up 118% YTD vs a 226% rise in Cochin Shipyard
 COCH.NS  and a 125% increase in Garden Reach Shipbuilders
 GRSE.NS  


($1 = 83.9370 Indian rupees)

 (Reporitng by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))