PSU shipbuilder Garden Reach Shipbuilders and Engineers Limited (GRSE) on Tuesday reported a net profit of Rs 58 crore for the fourth quarter ended March 2021, a jump of 18 per cent over the corresponding period profit of Rs 49 crore.
Revenue for the quarter stood at Rs 399 crore down from Rs 456 crore, the company informed the bourses.
The company announced a dividend of Rs 1.15 per share for the year 2020-21.
The full year profit for the warship maker was down to Rs 153 crore against Rs 163 crore registered in 2020-21.
The management has estimated the value of loss of production hours and quantum of non-usage of plant and machinery of production shops during the year ended FY 21 mainly due to Covid disruptions at Rs 20 crore.
Meanwhile, CAPEX in FY21 has been almost tripled to Rs 154 crore as compared to Rs 52 crore in the year before.