In the first half of 2023–2024, GRSE's activities generate income of Rs 1,654 crore

 In the first half of 2023–2024, GRSE's activities generate income of Rs 1,654 crore

According to a press release from GRSE, the warship builder with its headquarters in Kolkata had a profit before tax (PBT) of Rs 209 crore and a profit after tax (PAT) of Rs 157 crore, representing a 45% increase over the first half of 2023–24.

Defence PSU Garden Reach Shipbuilders and Engineers Limited (GRSE) claimed on November 10 that during the first half of the 2023–24 fiscal year, it generated income of Rs 1,654 crore from its activities. This represents a 31% increase over the same time in the previous fiscal year. According to a press release from GRSE, the warship builder with its headquarters in Kolkata had a profit before tax (PBT) of Rs 209 crore and a profit after tax (PAT) of Rs 157 crore, representing a 45% increase over the first half of 2023–24.

It also said that earnings per share increased by 45% to Rs 13.74 over the same time in the previous year. The GRSE also released the quarterly results for the July through September 2023–24 fiscal year. It reported that its total revenue for the time was Rs 969 crore, up from Rs 722 crore in the same period of 2022–2023—a gain of Rs 247 crore.

Revenue from operations during the second quarter of 2023–24 was reported to be Rs 898 crore, up Rs 216 crore or 32% from Rs 682 crore during the same time in 2022–23. According to the corporation, its profit before tax (PBT) increased by 36% to Rs 107 crore in the second quarter of 2023–24 from Rs 79 crore in the same time the previous fiscal year.

PAT increased by 37% to Rs 81 crore in the second quarter of 2023–24 from Rs 59 crore in the same time the previous fiscal year, according to the report. The business said that profits per share increased by 37% to Rs 7.05 in the second quarter of 2023–24 from Rs 5.13 in the same period in 2022–23.

Commodore Hari PR, (retd), chairman and managing director of GRSE, commented on the results, saying that the Defence PSU is continuing at the pace it set in the first quarter of the 2023–24 fiscal year and that the company's strong physical performance in every area of operations has led to its best-ever financial results for the quarter along with half year that ended on September 30. "I am confident that by combining 10 out of the 19 warships under development having been launched, the coming months and years will see the shipyard supplying quality warships to the Navy towards upgrading the maritime security of our nation," he said.