DCIL posts profit of Rs.27.22 crore in Q3

Viakhapatnam: Dredging Corporation of India Limited (DCIL), a leader in the dredging Industry, has announced its exceptional financial performance for the third quarter (Q3) of 2023-24. The company saw a robust growth during the quarter by posting a profit of Rs 27.22 crore as against Rs 13.84 crore during the same period last year. The Earning per Share (EPS) is put at Rs 9.72 for the quarter ending on December 31. The earnings before interest, taxes, depreciation and amortization (EBIDTA) for the Q3 was Rs 69.59 crore as against Rs 59.71 crore for the same period last year.

This impressive growth is a testament to the company’s unwavering commitment to delivering high-quality services to its clients, a DCIL official said on Tuesday.

The Q3 witnessed the successful completion of several significant dredging projects, contributing substantially to DCIL's 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.

DCIL maintained its focus on operational excellence during Q3 FY24 achieving commendable cost management and optimal resource utilization. These efforts resulted in improved profit margins and enhanced shareholder value.

Dr Madhaiyaan Angamuthu, Chairman, DCIL and Visakhapatnam Port Authority (VPA) and Capt S Divakar, Managing Director & CEO (A/C) of DCIL were exuberant to share the outstanding results for the third quarter.