GRSE net profit down by 51% in Q4

GRSE net profit down by 51% in Q4

Published
Hot News
1 min read
Kolkata: Indian Navy`s seventh `Landing Craft Utility` at Garden Reach Shipbuilders & Engineers (GRSE) dock in Kolkata, on Nov 24, 2016. (Photo: Kuntal Chakrabarty/IANS)
Kolkata, May 30 (IANS) Garden Reach Shipbuilders & Engineers (GRSE), one of India's leading warship builders for Indian Navy and Coast Guard, on Wednesday reported a 51 per cent dip in its net profit to Rs 33.62 crore in the fourth quarter of 2018-19 (FY19), as compared to Rs 69.06 crore in the year-ago period.
Its revenue from operations during the quarter under review was at Rs 489.20 crore, down from Rs 630.50 crore in corresponding period of 2017-18 (FY18).
However, for the entire FY19, the defence PSU reported a healthy increase of 19 per cent in its net profit to Rs 109.93 crore as against to Rs 92.40 crore in FY18. Revenue from operations for the year ended March 31, 2019 at Rs 1,386.43 crore, compared to Rs 1,349.66 crore during the same period previous year.
The ship-maker reported earnings before interest, tax, depreciation and amortization (EBITDA) of Rs 211.16 crore, about 29 per cent higher in FY19, as against Rs 164.39 crore in FY18.
--IANS
bdc/vd

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

Liked this story? We'll send you more. Subscribe to The Quint's newsletter and get selected stories delivered to your inbox every day. Click to get started.

The Quint is available on Telegram & WhatsApp too, click to join.

Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!