Q2FY'24: Dredging Corporation of India posts a healthy profit of Rs 16.77 cr

New Delhi: After a fall of 6.42% (y-o-y) in the first quarter of the ongoing financial year, the Dredging Corporation of India Limited (DCIL) has posted an impressive profit of Rs 16.77 cr for the second quarter. The company announced its Q2FY'24 results on Tuesday.

A leader in the dredging industry DCIL has posted these numbers with a healthy total turnover of Rs 198.59 cr for the FY'24. The profit posted half yearly ended September'23 for the FY 2023-24 is Rs 31.92 cr.

The Earning Per Share (EPS) is at Rs 5.99 for Q2FY'24. The Earning Per Share (EPS) half yearly is at Rs 11.40. The Earnings before Interest, Taxes, Depreciation & Amortization (EBIDTA) for the (Q2) Quarter is at Rs 57.97 CR. The Earnings before Interest, Taxes, Depreciation & Amortization (EBIDTA) posted half yearly ended September 2023 for the FY'24 is at Rs 114.83 cr.

"Our team's dedication and expertise have enabled us to overcome challenges and achieve growth while upholding our commitment to sustainability and innovation", said the exuberant Chairman DCIL, Dr Madhaiyaan Angamuthu (IAS).

Speaking at the release of results Capt S Divakar, MD & CEO of DCIL said "The Company is committed to maintain this upward trend and continue to show improvement in the performance which is aiming at a record highest ever turnover of Rs 1200 cr financial year 2023-24".

The company said in an official statement that it has maintained its focus on operational excellence during Q2 FY 2023- 24 achieving commendable cost management and optimal resource utilization. These efforts resulted in improved profit margins and enhanced shareholder value.

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