Garden Reach Shipbuilders rises after strong Q1 performance

Garden Reach Shipbuilders & Engineers advanced 2.12% to Rs 278.85 after the company reported 90.5% rise in net profit to Rs 50.18 crore in Q1 FY23 from Rs 26.34 crore in Q1 FY22.

Revenue from operations increased by 90.6% YoY to Rs 579.77 crore during the quarter.

Total expenses rose by 79.5% to Rs 556.38 crore in Q1 FY23 over Q1 FY22.

The company recorded a pre-tax profit of Rs 64.24 crore in Q1 FY23, which is significantly higher as compared with Rs 26.45 crore in Q1 FY22.

Garden Reach Shipbuilders & Engineers is a premier shipyard of India, under the administrative control of the Ministry of Defence, Government of India. It builds warships for the Indian Navy & Indian Coast Guard.

 

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