New Delhi: Dredging Corporation of India (DCI) on Tuesday reported a net profit of Rs 21.39 crore for the March 2025 quarter, mainly on the back of increased income.
It had posted a loss of Rs 25.97 crore in January-March period of preceding 2023-24 fiscal, the company said in an exchange filing.
DCI increased its total income to Rs 464.38 crore in the fourth quarter from Rs 278.80 crore in the same quarter a year ago, registering a rise of 67 per cent.
Speaking to PTI, company's MD and CEO Durgesh Kumar Dubey said, "We have ended the fourth quarter delivering positive financial numbers. We will try to maintain this momentum in the coming quarters."
The company is also looking for business opportunities in the Middle East, South East Asia and South Asian markets along with domestic market where players like AMNS India, JSW Group and Adani Group are looking to expand their port operations, said Dubey, who is also the Deputy Chairman of Visakhapatnam Port Authority (VPA).
On the outlook for the sector, Dubey said the port sector is on a growth trajectory driven by government-led initiatives like Sagarmala Programme.
Based in Visakhapatnam in Andhra Pradesh, DCI is a premier dredging company under the administrative control of four major ports of India -- Visakhapatnam Port Authority, Jawaharlal Nehru Port Authority (Mumbai), Paradip Port Authority and Deendayal Port Authority (Kandla).
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)