DCIL earns highest turnover of Rs 241 cr in Q3
Dredging Corporation of India Limited (DCIL), a listed company acquired by a consortium formed by four major ports, is poised to earn net profit this fiscal after incurring loss during 2020-21, according to indications.
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Visakhapatnam: Dredging Corporation of India Limited (DCIL), a listed company acquired by a consortium formed by four major ports, is poised to earn net profit this fiscal after incurring loss during 2020-21, according to indications.
The company has reported a turnaround performance by earning Rs 241 crore during the third quarter ending December 31, 2021 giving signs of hope for putting up a good performance braving the challenges posed by the long spell of the pandemic.
The company had incurred a loss of Rs 158 crore during 2020-21. In the current fiscal, it incurred a loss of Rs 24 crore in first quarter, again narrowed it down to a loss of Rs 2 crore in the second quarter and finally in the third quarter made a profit of Rs 29 crore, as per the provisional figures, sources in the company told Bizz Buzz on Tuesday.
The dredging season falls in the third and fourth quarter and thus, DCIL's turnover is expected to further improve in the fourth quarter to end the financial year with profit after tax (PAT), according to industry sources.
DCIL is a listed dredging company in India and its major shares are held by the consortium of four major port authorities namely Visakhapatnam Port, Paradip Port, Jawaharlal Port and Deendayal Port.
Post-acquisition, the company has set its eyes on exploring overseas business.
