Garden Reach Shipbuilders & Engineers Limited (GRSE) delivered a robust financial performance in the third quarter, posting sharp year-on-year growth across profitability and revenues, supported by higher execution, improved operating leverage, and a healthy order pipeline.
For Q3, Garden Reach reported a net profit of ₹170.7 crore, marking a strong 73.9% increase compared with ₹98.2 crore in the same quarter last year. The significant rise in profit reflects improved scale of operations and better cost efficiencies during the quarter.
Revenue from operations jumped 49% year-on-year to ₹1,895 crore, up from ₹1,271 crore in Q3 of the previous financial year. The growth was driven by faster project execution and sustained demand from the defence segment, particularly naval shipbuilding and engineering contracts.
Operating performance saw a notable improvement, with EBITDA rising to ₹172.1 crore from ₹75.3 crore on a YoY basis. EBITDA margin expanded sharply to 9% compared with 5.9% in the corresponding quarter last year.
