Visakhapatnam: DCI posts impressive profit in 2nd quarter

Visakhapatnam: Dredging Corporation of India (DCI) posted a profit of Rs.16.77 crore for the second quarter with a total turnover of Rs.198.59 crore for the financial year 2023-24.

The earnings before interest, taxes, depreciation and amortisation (EBIDTA) for the Q2 is at Rs.57.97 crore. The EBIDTA posted for the half yearly ended September for the FY 2023-24 is at Rs.114.83 crore.

This impressive growth is a testament to the company’s unwavering commitment to delivering high-quality services to its clients.

Meanwhile, the second quarter of the financial year 2023-24 witnessed successful completion of several significant dredging projects, contributing significantly to the DCI’s revenue surge. The company’s expertise in executing complex projects has solidified its position as a preferred partner for clients seeking efficient and sustainable solutions.

The DCI maintained its focus on operational excellence during the second quarter achieving commendable cost management and optimal resource utilisation. These efforts resulted in improved profit margins and enhanced shareholder value.

Chairman of DCIL and Visakhapatnam Port Authority Madhaiyaan Angamuthu and MD and CEO, (A/C), Capt S Divakar lauded the team for achieving the outstanding results. They mentioned that the team’s dedication and expertise enabled the company to overcome challenges and achieve growth.

The company is committed to maintain this upward trend and continue to show improvement in its performance which is aiming at a turnover of Rs.1,200 crore for the financial year 2023-24.