The profit after tax of Dredging Corporation of India fell to ₹7.12 crore during 2016-17 from ₹43.5 crore during the previous year.
The financial results for 2016-17 were approved at the 41st annual general meeting of DCI held on Thursday.
The operational income during the year under review was ₹585.8 crore as compared to ₹665.85 crore during the previous year. The other income was ₹13.81 crore as compared to₹15.32 crore during the previous year. The total income for the year was ₹599.68 crore as compared to ₹681.18 crore during the previous year.
The company’s earning per share for 2016-2017 was ₹2.54 compared to ₹28 during the previous year.
Capacity addition
The inland cutter suction dredger named as DCI-Ganga was inducted into the fleet during the year. The vessel has been put into operation at the dredging project being carried out in Puducherry. This is the first inland fleet inducted into the fleet in the recent times.
The company has secured on tender basis the dredging contract at Haldia/Kolkata Port for five years from January 1, 2017. The company has been performing the dredging at the port for the past 30 years. The company also caters to the maintenance dredging requirements of other major ports/Indian Navy.
During the year under review, maintenance dredging contracts were executed for Kolkata Port, Cochin Port Trust, Cochin Shipyard, RGPPL-Dabhol and NST and its approaches of VPT. Capital dredging contracts were executed at Mormugao and Chennai ports, Andaman and Nicobar Island, Puducherry, Gogha and Dahej.
