Garden Reach Shipbuilders and Engineers’ shares surged 9 per cent after the company reported a 52 percent increase in profit for the quarter ended June 30, 2023, at ₹76.68 crore compared to ₹50.17 crore during the corresponding quarter last year. 

The company’s revenues were up by 30 per cent to ₹755.90 crore compared to ₹579.77 crore last year. Sequentially, the company’s profits were higher by 38 per cent compared to ₹55.29 crore in the previous quarter.

The shares were up by 9 per cent to ₹721 at 10.10 am on the BSE.