Registers Rs 27 cr Profit

A leader in the Dredging Industry, Dredging Corporation of India recently posted an impressive Profit for Quarter Three (Q3) of Financial Year 2023-24.

DCIL posted a profit of Rs 27.22 CR for Quarter Three (Q3) as against Rs 13.84 CR in the same period last year. Its Earning Per Share (EPS) for Q3 stood at Rs 9.72.

Similarly its Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) for Quarter Three (Q3) stood at Rs 69.59 CR as against Rs 59.71 CR for the same Quarter last year. 

As per an official release from the company the third quarter of FY 2023- 24 witnessed the successful completion of several significant dredging projects, contributing significantly to Dredging Corporation of India revenue surge. 

The company’s expertise in executing complex projects has solidified its position as a preferred partner for clients seeking efficient and sustainable solutions, said the release.

On the Operational Efficiency aspect Dredging Corporation of India maintained its focus on operational excellence during Q3 FY 2023- 24 achieving commendable cost management and optimal resource utilization. 

These efforts resulted in improved profit margins and enhanced shareholder value.

DCIL’s chairman, Dr Madhaiyaan Angamuthu, IAS, & DCIL’s MD&CEO (A/C), Capt S Divakar, expressed happiness on their Q3 results and attributed the success to DCIL’s team dedication and expertise in overcoming challenges and achieving growth. 

It further added that the Company is committed to maintain this upward trend and continue to show improvement in the performance which is aiming at a record highest ever turnover of Rs 1200 Cr for this financial year 2023-24.