GRSE reports best-ever net profit of Rs 77 crore in June quarter

Warship maker Garden Reach Shipbuilders & Engineers Ltd (GRSE) on Friday reported its best-ever net profit of Rs 77 crore in the June quarter.

The entity saw a 54 per cent increase in net profit as compared to Rs 50 crore it reported in the year-ago period.

The total income stood at Rs 827 crore in the first quarter of the current fiscal, 33 per cent higher than Rs 621 crore in the year-ago period.

Revenue from operations for the quarter under review grew 30 per cent to Rs 756 crore as compared to Rs 580 crore last year.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) was Rs 117 crore as against Rs 74 crore, registering a growth of 58 per cent.

"The current fiscal year has started on a very vibrant note for GRSE with the shipyard recording the best-ever quarterly results in the history of the company," GRSE Chairman and Managing Director Cmde PR Hari said.

"The shipyard gears up for the launch of the third Frigate of P17A on August 17... GRSE shall continue to play a major role in encouraging industrial growth," Hari said.