GRSE Revenue & Profit Surges; Profit stands Rs. 88 Crore in Q3 FY24

Kolkata, 13th February 2024: Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country has announced its financial results for the third quarter & nine months ended December 31st, 2023.

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Highlights of Financial Performance Q3 FY23-24 

• Total Income for the Q3 FY24 stood at Rs. 1,005 Crore against Rs. 749 Crore in Q3 FY23 with a growth of 34%

Revenue from Operation has increased to Rs. 923 Crore in Q3 FY24 from Rs. 699 Crore in Q3 FY23, registering a growth of 32 % 

• The Earnings before Interest, Tax, Depreciation and Amortization stand at Rs. 130 Crore in Q3 FY24, as against Rs. 97 Crore in Q3 FY23, with an increase of 34% 

• Profit Before Tax (PBT) is Rs. 119 Crore for Q3 FY24 as compared to Rs. 86 Crore in Q3 FY 23, registering a growth of 38% 

• Profit After Tax (PAT) is Rs. 88 Crore in Q3 FY24 as against Rs. 64 Crore in Q3 FY 23, registering a growth of 38%

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Commenting on the results, Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, “Our Revenue from Operations and PAT have been on a steady upward trend. Our ongoing shipbuilding projects are at a maximum revenue recognition stage & we are confident of maintaining the upward momentum in the coming quarters too. It is indeed a matter of great pride for Team GRSE that the 1st Survey Vessel (Large), INS Sandhayak, the largest Survey Vessel of our nation, was commissioned on 03 Feb 2024 in the august presence of the Hon’ble Raksha Mantri and the Chief of the Naval Staff. Our focus continues on timely project execution, exports and new technology adaption with specific impetus on development of autonomous and Green Energy platforms”.

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