Garden Reach Shipbuilders & Engineers Q2 Results 2024: Profit Rises by 21.11% YoY
Garden Reach Shipbuilders & Engineers Q2 Results 2024: Revenue increased by 28.4% YoY & profit increased by 21.11% YoY, profit at ₹97.77 crore and revenue at ₹1152.92 crore.
Garden Reach Shipbuilders & Engineers Q2 Results 2024:Garden Reach Shipbuilders & Engineers declared their Q2 results on 13 Nov, 2024, showcasing a robust performance with the topline increasing by 28.4% year-over-year. The company reported a profit of ₹97.77 crore, reflecting a 21.11% rise compared to the same quarter last year.
The revenue for the quarter stood at ₹1152.92 crore, with a sequential growth of 14.18% from the previous quarter. This positive momentum in revenue was accompanied by a profit increase of 12.13% quarter-on-quarter.
In terms of expenses, the Selling, General & Administrative expenses experienced a rise of 1.51% quarter-on-quarter and an increase of 12.92% year-over-year, indicating higher operational costs amid growing revenues.
Notably, the operating income saw significant growth, up by 26.67% compared to the previous quarter and an impressive 51.05% year-over-year increase, signaling strong operational efficiency.
Earnings per share (EPS) for Q2 came in at ₹8.54, marking a 21.13% increase year-over-year, further highlighting the company's profitability.
As of 15 Nov, 2024, market sentiment appears mixed with out of 3 analysts covering the company, 2 analysts have given a Strong Sell rating while 1 analyst has issued a Strong Buy rating, reflecting divergent views on the stock's performance.
Garden Reach Shipbuilders & Engineers Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1152.92 | 1009.72 | +14.18% | 897.91 | +28.4% |
| Selling/ General/ Admin Expenses Total | 113.83 | 112.14 | +1.51% | 100.8 | +12.92% |
| Depreciation/ Amortization | 10.71 | 10.44 | +2.54% | 10.35 | +3.41% |
| Total Operating Expense | 1094.89 | 963.91 | +13.59% | 859.5 | +27.39% |
| Operating Income | 58.03 | 45.81 | +26.67% | 38.42 | +51.05% |
| Net Income Before Taxes | 130.53 | 115.44 | +13.07% | 107.48 | +21.45% |
| Net Income | 97.77 | 87.19 | +12.13% | 80.73 | +21.11% |
| Diluted Normalized EPS | 8.54 | 7.61 | +12.22% | 7.05 | +21.13% |
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