DCI profit rises to Rs 4459 lakh in June-quarter of FY19

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Posted August 13, 2019

The operational income of the company is Rs. 69,174 lakh

The profit after tax (PAT) of the Dredging Corporation of India (DCI) has gone up from Rs 1,664 lakhs the previous year to Rs 4,459 lakhs during 2018-19.

The announcement was made in New Delhi on Thursday at the annual general meeting of the company.

The Government of India concluded the strategic disinvestment of the DCIL by way of transfer of management control and sale of the 73.47 per cent equity share capital to the four ports – Visakhapatnam Port Trust, Paradip Port Trust, Deendayal Port Trust and Jawaharlal Nehru Port Trust.

The operational income of the company is Rs. 69,174 lakh as compared to Rs. 59,187 lakh for the previous year. The other income is Rs. 678 lakh as compared to Rs. 2,025 lakh for the previous year. The total income for the year is Rs. 69,852 lakh as compared to Rs. 61,212 lakh for the previous year.

Dredging operations

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.

The company has also taken steps to fulfill its responsibility towards the society by implementing the CSR initiatives. During the year, it has spent an amount of Rs.153.38 lakh towards CSR activities which is more than the target of Rs.77.97 lakhs.

Source: thehindubusinessline.com