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Defence PSU GRSE records Rs 2,801 crore income in nine months of FY24

The profit after tax (PAT) was Rs 246 crore from April to December of 2023-24 as against Rs 173 crore in the same period of the previous fiscal

ports shipping container trade

GRSE chairman and managing director Commodore P R Hari (retd) said that the Defence PSU's revenue from operations and profit after tax have been on a steady upward trend

Press Trust of India Kolkata

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Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd recorded a total income of Rs 2,801 crore in nine months till December 31 in the financial year 2023-24, an increase of 34 per cent compared to the same period in previous fiscal, an official said on Tuesday.
He said that revenue from operations between April and December in 2023-24 stood at Rs 2,577 crore as compared to Rs 1,960 crore in the same period in 2022-23, recording a growth of 31 per cent.
GRSE's profit before tax (PBT) stood at Rs 328 crore for the first nine months of fiscal 2023-24 as compared to Rs 229 crore in the same period the previous financial year, the official said in a statement.
The profit after tax (PAT) was Rs 246 crore from April to December of 2023-24 as against Rs 173 crore in the same period of the previous fiscal.
The earnings per share (EPS) for the nine months in 2023-24 stood at Rs 21.45 as compared to Rs 15.09 in the same period of 2022-23, registering a growth of 42 per cent, the official said.
He said that the total income for the third quarter from October 1 to December 31 of 2023-24 was recorded at Rs 1,005 crore as against Rs 749 crore during the same period in the previous fiscal, a growth of 34 per cent.
The profit after tax for the third quarter in 2023-24 stood at Rs 88 crore as against Rs 64 crore during the same period in 2022-23, he said.
GRSE chairman and managing director Commodore P R Hari (retd) said that the Defence PSU's revenue from operations and profit after tax have been on a steady upward trend.
"Our ongoing shipbuilding projects are at a maximum revenue recognition stage and we are confident of maintaining the upward momentum in the coming quarters too," he said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 13 2024 | 9:37 PM IST

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