Posted on June 3, 2024
HIGHLIGHTS
- Posts a profit of Rs 35.68 cr for the financial year 2023-24
- Witnesses completion of several significant dredging projects
Visakhapatnam: Dredging Corporation of India clocked a profit of Rs 35.68 crore for the financial year 2023-24.
A leader in the dredging industry, DCI posted a profit of Rs 35.68 crore which is a remarkable growth compared to Rs 15.18 crore profit achieved during 2022-23.
Despite a loss incurred in the fourth quarter, the DCI team has shown remarkable resilience and dedication by consistently delivering strong performance by posting a profit of Rs 35.68 crore.
The financial year 2023- 24 witnessed a successful completion of several significant dredging projects, contributing significantly to Dredging Corporation of India revenue surge.
This impressive growth is a testament to the company’s unwavering commitment to delivering high-quality services to its clients. The existing projects have been monitored meticulously and executed on time. The company’s expertise in executing complex projects has solidified its position as a preferred partner for clients seeking efficient and sustainable solutions. “We are happy to inform that this recasting move is particularly aimed at bolstering the company’s financial health and positioning it for sustainable future growth. The measure is a part of the company’s ongoing efforts to strengthen its financial position and ensure long-term stability and company’s commitment to financial transparency and prudent management,” the DCI officials mentioned.
A Trailer Suction Hopper Dredger at a cost of approximately Rs.800 crore is under construction at Cochin Shipyard Ltd and Rs.306 crore was paid so far. The delivery and commissioning of this dredger is expected in October next year,which will lead in argumentation of the company’s dredging capability.
Committed towards maintaining an upward trend, the DCI aims at a highest turnover of Rs.1,840 crore in 2024-25.
