State-run warship builder Garden Reach Shipbuilders & Engineers (GRSE) has reported a 21 per cent increase in net profit for the quarter ended September 30 at Rs 98 crore on the back of higher revenues.
The company had reported a PAT of Rs 81 crore in the corresponding period last fiscal.
Its revenue from operation has increased to Rs 1,153 crore in Q2 FY2025 from Rs 898 crore in Q2 FY2024, registering a growth of 28 per cent.
Commenting on the results, Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers said, “Our Q2 & H1/ FY2024 results have been very encouraging and our existing orders for Indian Navy, coupled with orders for commercial vessels and specialised research vessels provide us a clear growth path.”
He further said that with a strong order book and more orders on the anvil, the foreseeable future looks promising, and the company is confident of continued delivery of strong numbers.
