Garden Reach Shipbuilders reports 12 per cent rise in Q2 net profit
The defence PSU recorded a consolidated net profit of Rs 171.97 crore for the second quarter of the financial year.
Garden Reach Shipbuilders & Engineers reported a consolidated net profit of Rs 171.97 crore in Q2FY27, marking an 11.82 per cent increase from the Rs 153.78 crore recorded in Q2FY26, according to the Financial Express.
The company's revenue for the same period reached Rs 1,826.69 crore, up 8.90 per cent year-on-year from Rs 1,677.38 crore in Q2FY26. On a sequential basis, both revenue and profit remained largely flat.
Under a contract signed on November 2, the company will build and deliver five Next Generation Corvettes for the Indian Navy. This project is expected to be finished within nine years and four months after the first-stage payment is received.
Garden Reach Shipbuilders & Engineers is a Navratna Defence Public Sector Undertaking (PSU) under the Ministry of Defence. The company designs, builds, and repairs warships and commercial vessels, serving the Indian Navy and Indian Coast Guard as primary customers.
The company stated it had no subsidiary, associate, or joint venture companies as of September 30, 2026. The share price of the company has declined nearly 14 per cent over the last three months and nearly 9 per cent on a year-to-date basis.