Garden Reach Shipbuilders & Engineers Q2 Results 2024: Profit Rises by 21.11% YoY

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.

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