Defence PSU Garden Reach Shipbuilders & Engineers Ltd (GRSE) on Thursday posted a more than four-fold jump in net profit to Rs 59 crore in the second quarter of the current fiscal, on the back of higher revenue.
The company had posted a net profit of Rs 12.78 crore in the corresponding period of 2018-19.
Revenue from operation was at Rs 439 crore during the quarter under review as against Rs 217.7 crore, registered in the same period of the previous year, the ship maker said.
With rapid execution of orders, the quarter saw doubling of sub-contracting charges to Rs 41.24 crore as against Rs 20.45 crore in the same period of the previous year, the company said.
As many as 22 projects are in various stages of construction, with an order book of Rs 27,500 crore, it added.