DCIL profit soars in 2018-19

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Dredging Corporation of India notched up a net profit of Rs 4,459 lakhs during 2018-19, a significant jump from Rs 1664 lakhs in the previous year, helped by widening of its market and focusing on new areas of dredging.
The total income of the company was 69,852 lakhs during the year, as against Rs 61212 lakhs in the previous year. It released these figures after its 43rd annual general meeting was held in New Delhi on August 8.
It may be recalled that the Government had concluded the strategic disinvestment by way of the transfer of management control and sale of 73.47 equity share capital held by the Government to the four ports of Vizag, Paradip, Deendayal and JNPT. The share purchase agreement was executed on March 8, the day when the new management took charge of the company.
The Company has been performing the dredging at the Port for the past thirty years. The company also caters to the maintenance dredging requirements of other major ports/Indian Navy etc., The Company is taking capital dredging assignments on the availability of the vessels and other logistic requirements.
During the year under review, maintenance dredging contracts were executed for Kolkata Port, Cochin Port Trust, Cochin Shipyard, RGPPL-Dabhol, Gangavaram Port, Mumbai, Krishnapatnam Port, Karaikal Port and New Sand Trap and its approaches of Visakhapatnam Port Trust. Capital Dredging Contracts were executed at Paradip Port, Mongla Port – Bangladesh, Pussur River and Muri Ganga, West Bengal.

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