Comments
Garden Reach Shipbuilders & Engineers Limited (GRSE) registered nine per cent growth in net profit at ₹63 crore for the quarter ended December 31, 2021, as compared with ₹58 crore same period last year.
Revenue from operations increased by nearly 35 per cent at ₹487 crore in Q3 FY22 as against ₹360 crore same period last year. The company’s EBITDA stood at around ₹96 crore as against ₹81 crore (higher by 18 per cent).
According to Rear Admiral V K Saxena, IN (Retd.), Chairman & Managing Director, GRSE, the company effectively managed the challenges during the first, second and third wave of the Covid-19 pandemic and made commendable progress to accomplish operational success.
Strong order book
“The shipyard could successfully continue concurrent construction of 17 ships in different stages that include launching of the first of class indigenous survey vessel (large) for Indian Navy in December 21, laying keel of the ocean-going passenger cum cargo vessel for the Republic of Guyana in November 21 and the Keel of 5th of eight Anti-Submarine Warfare Shallow Water Crafts (ASWSWCs). The company looks forward to working with a more focused approach to expand the export horizon in shipbuilding and fulfilling the national objective of self-reliance,” he said in a press statement.
The company has strong order book position of ₹24,605 crore as on Dec 31, 2021.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.