Dredging Corporation of India Limited (DCIL) reported a turnaround performance for the financial year 2021-22 by grossing a turnover of ₹802 crore, which is said to be the highest achieved in the last 12 years.
Announcing the results here on Monday, the company reported a profit after tax for 2021-22 of ₹5.16 crore, as compared to the loss of ₹172.41 crore, in the last year.
It also recorded an earning per Share (EPS) of ₹1.84, as compared to a minus ₹60.05, in the previous year.
The EBITA (Earnings before interest, taxes, and amortization) for the year ended was also the all-time high in recent times at ₹117.62 crore, as against a minus of ₹34.38 crores, in the previous year.
As per G.Y.V Victor, MD & CEO of DCIL, the performance could be achieved despite seven of its dredgers being in the dry docks for a considerable period of time during the year.
The performance would have been much better but for the abnormal increase in fuel prices in recent times, he said.
According to him, all the projects could be completed in the year in time and to the satisfaction of the clients and he attributed the turnaround to strict cost control measures and close monitoring of the contracts.
