Shipping company Dredging Corporation Of India announced Q1FY25 results: Negative PAT: Dredging Corporation of India Ltd (DCIL) posted a negative Profit After Tax (PAT) of Rs 31.40 crore for the first quarter ending on 30.06.2024. Revenue Drop: Revenue from Operations for Q1FY24 was Rs 150.80 crore, a decrease of Rs 53.60 crore or 26% compared to Rs 204.41 crore in the corresponding period of the previous year. Increased Loss: The negative PAT of Rs 31.40 crore in Q1FY24 represents a 200% decrease compared to a positive PAT of Rs 15.15 crore in the corresponding period of the previous year. Earnings Per Share (EPS): The EPS for Q1FY24 was Rs -11.22 (negative), down from Rs 5.41 (positive) per share in the corresponding period of the previous year. EBIDTA Decline: Earnings Before Interest, Depreciation, Tax, and Amortisation (EBIDTA) for Q1FY24 was Rs 13.11 crore, a decrease of Rs 43.98 crore or 77% compared to Rs 57.09 crore in the corresponding period of the previous year. Operational Issues: The drop in operational revenue is primarily due to dry-dock repairs and emergency repairs of 5 to 6 dredgers. Most of these repairs have been completed, with only one dredger pending. Future Outlook: All repaired dredgers are expected to be deployed for dredging activities in July/August 2024, and Q2 is anticipated to align with revenue guidance. Performance Commitment: The company aims to achieve a record-high turnover of Rs 1800 crore for the financial year 2024-25 and is committed to improving performance and maintaining an upward trend. Result PDF
Shipping company Dredging Corporation Of India announced Q3FY24 results: Financial Performance: - Dredging Corporation of India reports a profit of Rs 27.22 crore in Q3FY24. - This performance indicates a substantial improvement from the Rs 13.84 crore profit reported in Q3FY23. - The Earning Per Share (EPS) has risen to Rs 9.72 for Q3FY24. Operational Highlights: - The Earnings before Interest, Taxes, Depreciation & Amortization (EBIDTA) for Q3 stands at Rs 69.59 crore, compared to Rs 59.71 crore in the same quarter last year. Growth Projections: - The company aims for a record turnover of Rs 1,200 crore for FY24. Result PDF
Shipping company Dredging Corporation Of India announced Q1FY24 results: Dredging Corporation of India posted a profit of Rs 15.15 crore for Q1FY24 with a healthy total turnover of Rs 205.18 crore for the Financial Year 2023-24 as against a loss of Rs 15.71 crore for Q1FY23. The Earning Per Share (EPS) is at Rs 5.41. The Earnings before Interest, Taxes, Depreciation & Amortization (EBIDTA) for Q1FY24 is at Rs 56.86 crore as against Rs 26.10 crore for Q1FY23. Dr. Madhaiyaan Angamuthu, IAS, Chairman, DCIL/VPA & Capt S Divakar, MD & CEO, (A/C), DCIL are exuberant to share these outstanding results for Q1FY24 and stated that, "Our team's dedication and expertise have enabled us to overcome challenges and achieve growth while upholding our commitment to sustainability and innovation. Further they stated that going forward company will focus on advancing its technological capabilities, expanding its project portfolio." Result PDF