Defence PSU Garden Reach Shipbuilders & Engineers Limited (GRSE) posted a year-on-year (Y-o-Y) growth of 13 per cent in Profit After Tax (PAT) to ₹87 crore for the first quarter of FY25 as against ₹77 crore for the same period in FY24.
The GRSE, however, had reported PAT at ₹112 crore in Q4 of FY 24.
One of the leading warship builders in the country, the GRSE said in its financial results for the first quarter ended June 30, 2024, that the total income for the first quarter of FY25 stood at ₹1,084 crore against ₹827 crore for the same period in FY24, registering a growth of 31 per cent year-on-year.
The DPSU said its profit before tax (PBT) registered a growth of 13 per cent year-on-year for quarter one of FY25 at ₹Rs 115 crore, as compared to ₹102 crore in quarter one of FY24.
Commenting on the results, Commodore Hari PR, Indian Navy (Retd), Chairman and Managing Director of GRSE, said, “The shipyard is on a growth trajectory and the Q1 FY25 financial results have been very encouraging. Considering our current order book and the project execution plan, I am confident of maintaining this upward trend in the coming years.”
The government-owned company also said that its revenue from operations increased to ₹1,010 Crore in the first quarter of FY25 from ₹756 crore in quarter one of FY24, registering a growth of 34 per cent year over year.