Profit before tax (PBT) stood at Rs 133.76 crore in the December 2024 quarter, up 12.72% as compared with Rs 118.67 crore recorded in the same quarter last year.
The earnings before interest, tax, depreciation, and amortization (EBITDA) stood at Rs 147 crore in the third quarter of FY25, an increase of 13% YoY.
Total expenses spiked 36.51% to Rs 1,209.36 crore in Q3 FY25 over Q3 FY24. During the quarter, the cost of materials consumed stood at Rs 874.42 crore (up 60.16% YoY), while employee benefits expense was at Rs 90.77 crore (up 5.23% YoY).
On a nine-month basis, the company’s net profit jumped 15.26% to Rs 283.15 crore on a 33.25% rise in revenue from operations to Rs 3,433.65 crore in 9M FY24 over 9M FY23.
The EBITDA stood at Rs 421 crore in 9M FY25, as against Rs 367 crore in 9M FY24, recording a growth of 15%.
Cmde Hari PR, IN (Retd) chairman and managing director, Garden Reach Shipbuilders & Engineers, said, "The Q3 results have been very encouraging, and we are confident of a good set of numbers even during Q4 FY25. The order book is strong, and the ongoing projects are progressing well. We also expect more orders in the coming months to bolster our order book position. And so, the future looks definitely bright for GRSE."
Meanwhile, the board has declared an interim dividend of Rs 8.95 per share, as on the record date, i.e., 7 February 2025.
State-run GRSE is engaged in building warships and other vessels for the Indian Navy and Indian Coast Guard. It has also diversified into an engineering business with a product profile of pre-fabricated steel bridges, various deck machinery items, and assembly, as well as testing & overhauling of marine diesel engines. As of 31 December 2024, the Government of India holds 74.50% in the company.