Garden Reach Shipbuilding in Profits

In the third quarter of the fiscal year 2024, Garden Reach Shipbuilding reported a net profit of Rs 88.3 crore, showing a growth of 38 percent compared to the same period last year, despite a lower operating margin. This growth was supported by increased revenue and other income.

The company’s revenue increased by 32.1 percent, reaching Rs 923.1 crore. EBITDA (earnings before interest, tax, depreciation, and amortization) saw a 3.8 percent rise to Rs 48.7 crore compared to the previous fiscal year. However, the margin for the same period declined from 6.7 percent to 5.3 percent.

Over the past year, the stock has gained more than 88 percent and has grown over eight times in the last five years. Garden Reach, a state-owned company, is engaged in activities such as shipbuilding, engine overhaul, assembly and testing, and other engineering activities.