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Garden Reach Shipbuilders & Engineers, a Central Public Sector Enterprise (CPSE), on wednesday reported a 21.09 per cent year-on-year increase in its net profit to ₹97.77 crore for the second quarter this fiscal, backed by around 28 per cent y-o-y surge in revenue.
One of the leading warship builders in the country, the company’s net profit stood at ₹80.74 crore in the second quarter last fiscal. Profit rose to ₹1152.92 crore for Q2FY25 compared to ₹897.91 crore during Q2FY24, according to a stock exchange filing.
In a company statement, GRSE said its EBITA stood at ₹144 crore in the second quarter as against ₹120 crore in the year-ago period, registering an increase of 20 per cent y-o-y.
EBITDA increased to ₹274 crore in H1FY25 from ₹237 crore in H1FY24. EBITDA margin stood at 16 per cent. Profit After Tax stood ₹185 crore in the first half this fiscal as against ₹157 crore in the same period last fiscal.
Commenting on the results, Hari PR, Chairman and Managing Director, GRSE, said, “Our Q2 and H1 results have been very encouraging and our existing orders for Indian Navy, coupled with orders for commercial vessels and specialized research vessels, provide us a clear growth path. With a strong order book and more orders on the anvil, the foreseeable future looks promising, and we are confident of continued delivery of strong numbers.”
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