Garden Reach Shipbuilders on Wednesday, 5 June, announced that they have signed a contract with the Bangladesh Inland Water Transport Authority to purchase a 1000 m3 trailing suction hopper dredger and its spare components for a total consideration of $16.6 million. 

In addition, the state-owned shipbuilding business revealed income for the March quarter that was above Rs 1,000 crore, a 69% increase over the same period the year prior.

In the fourth quarter, its earnings before interest, tax, depreciation, and amortisation (EBITDA) more than tripled to Rs 90.5 crore. In the preceding year, the company’s EBITDA was little more than Rs 20 crore.

It made Rs 112 crore in net profit for the March quarter, more than twice as much as it did in the corresponding period last year.

According to the company’s management, its profit and sales were the highest, and they intend to continue the upward trend in the upcoming years. Additionally, the business asserted that it was working on projects at the peak of revenue recognition and had a “strong” order book. There were further orders on the anvil, it continued.