GRSE shares surge 19% After profit jumps In Q1
Garden Reach Shipbuilders and Engineers Ltd. witnessed an impressive 18% surge in shares, hitting an all-time high, following a remarkable 53% growth in net profit during Q1.
The quarter, ending in June, saw net profits soar to Rs 76.7 crore, marking a historic milestone and reinforcing the company’s strong performance. Commodore (Retired) PR Hari, Chairperson of Garden Reach Shipbuilders, expressed confidence in the exceptional results, with revenue from operations also rising by 30% year-on-year.
The company’s order book, totaling Rs 24,546 crore, outlines a promising future, with ambitious plans to fulfill orders by 2027, including significant projects for the Indian Navy. Garden Reach Shipbuilders foresees contracts worth Rs 1.2 lakh crore in the coming years, aligned with India’s localization drive and underpinning its influential role in the maritime industry.