GRSE net profit down by 51% in Q4

Last Updated: Thu, May 30, 2019 10:48 hrs
Garden Reach Shipbuilders & Engineers Ltd

Kolkata: Garden Reach Shipbuilders & Engineers (GRSE), one of India's leading warship builders for Indian Navy and Coast Guard, on Wednesday reported a 51 per cent dip in its net profit to Rs 33.62 crore in the fourth quarter of 2018-19 (FY19), as compared to Rs 69.06 crore in the year-ago period.

Its revenue from operations during the quarter under review was at Rs 489.20 crore, down from Rs 630.50 crore in corresponding period of 2017-18 (FY18).

However, for the entire FY19, the defence PSU reported a healthy increase of 19 per cent in its net profit to Rs 109.93 crore as against to Rs 92.40 crore in FY18. Revenue from operations for the year ended March 31, 2019 at Rs 1,386.43 crore, compared to Rs 1,349.66 crore during the same period previous year.

The ship-maker reported earnings before interest, tax, depreciation and amortization (EBITDA) of Rs 211.16 crore, about 29 per cent higher in FY19, as against Rs 164.39 crore in FY18.