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GRSE earns Rs 2,763 cr in FY 2022-23

KOLKATA (PTI): Riding on its best-ever financial performance, Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd has earned a total income of Rs 2,763 crore in the 2022-23 fiscal, an official said on Thursday.

Profit after tax of the company stood at Rs 228 crore in the financial year 2022-23 against Rs 190 crore in the previous fiscal, he said.

The Kolkata-based defence shipyard registered a total income of Rs 2,763 crore in 2022-23 against Rs 1,916 crore in the 2021-22 fiscal, a growth of 44 per cent, he said.

"Our financial performance during FY 22-23, the best-ever in the company's history, is credited to the resilience and resolve of Team GRSE, as the company continues to grow on financials and physical performance," Chairman and Managing Director of GRSE, Commodore P R Hari (Retd.) said.

He said that ahead-of-schedule deliveries of a vessel to Cooperative Republic of Guyana and a fast patrol vessel to the Indian Coast Guard bear testimony to the operational efficiencies of the company.

"A strong order book coupled with a clear execution strategy promises continued growth in the coming years," Hari said.

A statement by GRSE said that the revenue from operations increased to Rs 2,561 crore in 2022-23 from Rs 1,754 crore in the previous fiscal.

Profit before tax stood at Rs 305 crore in 2022-23, a growth of 19 per cent against the previous fiscal, when it was Rs 257 crore, it said.

The earnings per share in 2022-23 stands at Rs 19.91 against Rs 16.55 in 2021-22, it said.

The premier warship building company declared an interim dividend at the rate of 62 per cent of paid-up share capital against 55 per cent in the previous fiscal, the statement said.

GRSE has built 108 warships for the Indian Navy, Indian Coast Guard and also for Mauritius and Seychelles coast guards, it said.

In addition to shipbuilding, GRSE is also engaged in engine production and other engineering activities, including manufacturing of deck machinery items, pre-fabricated portable steel bridges and marine pumps, it said.

Tags:

GRSE  Earning  2022  2023  Defence  

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