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GRSE posts robust profit growth, profit in Q1 FY20

In Q1 FY20, GRSE posted PAT of Rs 25.28 crore against Rs 7.81 crore in the corresponding quarter of last year, marking a whopping increase of 224 percent

GRSE profit in Q1 FY20
GRSE profit in Q1 FY20

Kolkata: In the first quarter of FY2019-20, Garden Reach Shipbuilders and Engineers Limited (GRSE) posted a Profit After Tax (PAT) of Rs 25.28 crore against Rs 7.81 crore in the corresponding quarter of last year. This marks a whopping increase of 224 percent year-on-year. Profit After Tax (Margin) is 11.50 percent in the June quarter against 3.35 percent in the corresponding quarter of the last year, marking a rise of 8.15 percent.

Revenue from operations

Revenue from operations for the quarter ended June 30, 2019 stood at Rs 167.96 crore as compared to Rs 190.91 crore in the same period last year. The reduction is mainly due to lower spares sale.

EBITDA and PBT

EBITDA (Margin) is 19.8 percent in the current quarter against 10.6 percent in the corresponding quarter of last year, registering an increase of 9.2 percent. Profit Before Tax stood at Rs 36.24 crore in the current quarter against Rs 17.50 crore in the corresponding quarter of last year. The increase is 107 percent mainly due to the recording of higher revenues from P-17A project and an increase in other income. Earning Per Share for Q1 FY20 stood at Rs 2.21, as compared to Rs 0.68 for Q1FY19.

Order book at Rs 27,804 cr

The order book position of the company as on July 1 stood at Rs 27,804 crores. On April 30, GRSE signed a contract for eight anti-submarine warfare shallow watercraft (ASW SWC) with the Indian Navy for Rs 6,311 crores. Additionally, GRSE is planning to launch the fifth ship of FPV Project Yard No 2117 of Indian Coast Guard on August 10 at its Raja Bagan Dockyard Unit, Kolkata. Dr Ajay Kumar, IAS Secretary (Defence Production), will be Chief Guest of the ceremony.