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DCIL posts Q1 profit of Rs 15 Cr. Says on track to achieve highest turnover in FY24

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Dredging Corporation of India, recently announced its financial performance for the quarter (Q1) of 2023-24 wherein it posted a profit of Rs 15.15 CR with a total turnover of Rs 205.18 CR for FY 24 as against loss of Rs 15.71 CR in the same Quarter last year.

The Earning Per Share (EPS) stood at Rs 5.41 while its Earnings before Interest, Taxes, Depreciation & Amortization (EBIDTA) for the (Q1) Quarter stood at Rs 56.86 CR as against Rs 26.10 CR for the same Quarter last year. ‘This impressive growth is a testament to the company’s unwavering commitment to delivering high-quality services to its clients’ said a release from DCIL.

On the Project Success and Expansion DCIL informed that the first quarter of FY 2023- 24 witnessed the successful completion of several significant dredging projects, contributing significantly to Dredging Corporation of India revenue surge.

In terms of operational Efficiency DCIL maintained its focus on operational excellence through achieving commendable cost management and optimal resource utilization. These efforts resulted in improved profit margins and enhanced shareholder value.

Dr Madhaiyaan Angamuthu, IAS, Chairman, DCIL/VPA & Capt S Divakar, MD & CEO, (A/C), DCIL stated that their team’s dedication and expertise have enabled them to overcome challenges and achieve growth while upholding our commitment to sustainability and innovation.

Further they stated that going forward the company will focus on advancing its technological capabilities, expanding its project portfolio.

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.

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