Garden Reach Shipbuilders Q1 net profit up by 224% at INR 25 crore

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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.

Highlights:

• FY20 (Q1) q-o-q Growth over FY19 (Q1)
• GRSE registers a Turnover of Rs 168 crore in 1st Quarter.
• EBITDA up 72% from Rs. 25 crore to Rs. 43 crore
• PBT up 107% from Rs. 17 crore to Rs. 36 crore
• PAT up 224%.from Rs. 8 crore to Rs. 25 crore

Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country have announced its financial results for the quarter ended June 30, 2019 today.

Q1FY20 financial performance highlights:

• Revenue from operations at Rs. 167.95 crore Previous quarter of Rs.190.91crore
• EBITDA of Rs. 43.33 crore Previous Quarter Rs.24.78 crore; q-o-q growth of (72)%
• PBT stood at Rs36.24 crore Previous Quarter Rs.17.50 crore; q-o-q growth of (107)%
• PAT stood at Rs.25.28 crore Previous Quarter Rs.7.81 crore; q-o-q growth of (224)%
• EPS for Q1 FY20 stood at Rs. 2.21, as compared to Rs. 0.68 for Q1 FY19

Q1FY20 Compared with Q1FY19:

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. Reduction is mainly due to lower Spares Sale.

EBITDA (Margin) is 19.8% in current quarter against 10.6% in the corresponding quarter of last year. Thus, registering an increase of 9.2%.

Profit before Tax stood at Rs.36.24 crore in current quarter against Rs.17.50 crore in the corresponding quarter of last year. Increase is 107% mainly due to recording of higher revenues from P-17A Project and increase in Other Income

Profit after Tax (Margin) is 11.50% in current quarter against 3.35% in the corresponding quarter of last year. Thus, registered an increase of 8.15%.

Profit after Tax stood at Rs.25.28 crore in current quarter against Rs7.81 crore in the corresponding quarter of last year. Increase is 224%.

Earning per Share for Q1 FY20 stood at Rs. 2.21, as compared to Rs. 0.68 for Q1FY19