Kolkata: Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country, has generated Rs 304 crore as revenue from operation in the first quarter of the current financial year as against Rs 110 crore in the last corresponding period, registering a growth of 176 per cent.

Its profit before tax (PBT) has registered a growth of 7.68 per cent while profit after tax (PAT) has been pegged at 5.98 per cent in the first quarter of the current fiscal. In a statement, the company said that PBT stood at Rs 26.45 crore in Q1 of FY22 as against Rs 1.76crore in Q1 of FY 21, registering an increase by 15 times. Earnings per share (EPS) for the Q1 of FY22 stood at Rs 1.80 as against Rs 0.01 in Q1 of FY 21.

The learning from the first wave of Covid-19 pandemic was successfully transformed by the company into operational strategies to mitigate the impact of the second wave in Q1 of FY 22. Overcoming the challenges posed by the ongoing pandemic, the shipyard is undertaking production of 12 ships concurrently across five projects.

The shipyard also commissioned the 250 ton Goliath Crane, a major contributor towards undertaking integrated shipbuilding, using advanced modular construction technology to boost production. Taking the export initiative forward, the Shipyard signed an order for supply of six patrol boats with the Fisheries Department of Bangladesh on July 3, 2021 under the Sustainable Coastal & Marine Fisheries Project, an order won on competitive bidding with global players. /BI/