GRSE Q3 Results: PAT grows 11% YoY to Rs 98 cr; dividend declared at Rs 8.95 apiece

Garden Reach Shipbuilders Engineers (GRSE) on Monday reported 11% year-on-year (YoY) growth in its net profit at Rs 98 crore for the quarter ended December 2024. The same stood at Rs 88 crore in the year-ago period.

Revenue from operations, meanwhile, jumped 38% YoY to Rs 1271 crore in the reporting period, compared with Rs 923 crore in the year-ago period.

On a sequential basis, net profit was flat from Rs 98 crore reported in the preceding September quarter. Revenues, however, improved 10% quarter-on-quarter.


EBITDA for the third quarter increased 55% YoY to Rs 75 crore, while margins expanded to 5.95%.

Total expenses during the reporting quarter increased 36% YoY to Rs 1209 crore. The expenses were Rs 886 crore in the same quarter of last year.

GRSE Dividend Declared

Along with the result, the company's board has also approved an interim dividend of Rs 8.95 per share for the financial year 2024-25, amounting to Rs 102, This will be given out of profits of the company for the nine months period ended December 2024.

Further, the record date for the said dividend is fixed on February 7.

GRSE is one of India’s premier defense shipyards and a mini ratna category 1 public sector undertaking under the Ministry of Defence.
It is renowned for designing and building warships and other vessels for the Indian Navy and Coast Guard.

On Monday, GRSE shares fell as much as 6% to close at Rs 1501 on NSE.