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