Dredging Corporation of India Ltd (DCI) announced a net profit of INR15.15 crore for the April-June quarter, attributed mainly to effective cost management.
Financial Performance Highlights for April-June Quarter
In the corresponding period of the previous fiscal year, the company had reported a net loss of INR 15.71 crore. The first-quarter total income decreased to INR 205.18 crore, a decline from INR 218.36 crore in the same period last year, as stated in an official exchange filing. Correspondingly, expenses dropped to INR 189.53 crore from INR 233.83 crore during the April-June quarter of the fiscal year 2022-23.
Comparison with Previous Fiscal Year’s Performance
A significant surge was witnessed in its earnings before interest, taxes, depreciation, and amortization (EBITDA), which more than doubled to INR 55.86 crore, showcasing a substantial leap from the previous year’s INR 25.10 crore during the same quarter. The company said it remains committed to harnessing advanced technological capabilities and broadening its range of projects.
From Visakhapatnam in Andhra Pradesh, Dredging Corporation of India Limited (DCI) provides dredging and related services to ports, the Indian Navy, fishing harbors, and other maritime entities.