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Q1 FY22 Results: GRSE back with flying colors, posts profit of Rs 21 crore

During the first quarter (Q1) of the current financial year (FY22), GRSE has registered a significant increase in net profit (PAT) of Rs 21 crore as against 0.15 crore in Q1 FY 21
Q1 FY'22 Results: GRSE posts net profit of Rs 21 crore
Q1 FY'22 Results: GRSE posts net profit of Rs 21 crore

New Delhi/Kolkata: Garden Reach Shipbuilders & Engineers Limited (GRSE) has announced its financial results for the first quarter (Q1) of the current financial year (FY2021-22). During the period the warship builder has registered 176 percent increase in revenue from operation of Rs 304 crore against Rs 110 crore in Q1 FY21. While the total income of the company is Rs 344 crore as against Rs 160 crore of Q1 FY 21, that is 115 percent higher against CPLY.

GRSE has also registered a significant increase in net profit (PAT) of Rs 21 crore as against 0.15 crore in Q1 FY 21. The PAT margin of the company stood at 5.98 percent. EBITDA margin has also increased to 10 percent in Q1 FY22 as against 6 percent in Q1 FY21.

Profit before tax (PBT) stood at Rs 26.45 crore in Q1 FY22 as against Rs 1.76 crore in Q1 FY 21 registering an increase by 15 times. The earnings per share (EPS) for the quarter ended Q1 FY22 stood at Rs 1.80 against Rs 0.01 in Q1 FY21.

The learnings from the first wave of the COVID Pandemic was successfully transformed by the Company into operational strategies to mitigate the impact of the second wave in Q1 of FY22. Overcoming the challenges posed by the ongoing pandemic, the shipyard is undertaking the production of 12 ships concurrently across 05 projects.

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The shipyard also commissioned the 250 Ton Goliath Crane, a major contributor towards undertaking integrated shipbuilding, using advanced modular construction technology to boost production. Taking the export initiative forward, the Shipyard signed an order for the supply of six Patrol Boats with the Fisheries Department of Bangladesh on July 3, under the Sustainable Coastal & Marine Fisheries Project, an order won on competitive bidding with global players.

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