DCIL records profit of Rs 17 crore in FY18

​Visakhapatnam: The Dredging Corporation of India Limited (DCIL) has recorded a net profit of Rs 16.64 crore for the financial year 017-18. The company’s PAT was Rs 7. 12 crore during 2016-17.

The operational income of the company is Rs 591.87 crore as compared to Rs 585.14 crore for the previous year. The other income is Rs 20.24 crore as compared to Rs 13.81 crore recorded in 2016-17. The total income for 2017-18 is Rs 612.11 crore as compared to Rs 598.96 crore registered in 2016-17.

After the central government’s announcement that the DCIL will continue as public sector unit and the proposals to privatise the company were withdrawn, the company has focused on the new contracts at a large scale. During the AGM held at New Delhi on Monday, the committee discussed about the new contract possibilities.

The company paid a dividend at 20 per cent on the paid-up capital i.e. Rs 2 per equity share of Rs 10 each has been declared amounting to Rs 5.6 crore for the year 2017-18. President of India holds 73.47 per cent of the total paid-up equity share capital of the company amounting of Rs 4.11 crore. The company’s earnings per share for 2017-2018 is Rs 5.94 as compared to Rs 2.54 for the previous year.

The company has secured on tender basis, the dredging contract at Haldia/Kolkata Port for five years from January 1, 2017.