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(12 Aug 2024, 11:32)

Dredging Corp drops on recording dismal Q1 numbers

Dredging Corporation of India (DCIL) slipped 4.72% to Rs 975 after the company’s standalone net loss stood at Rs 31.40 crore in Q1 FY25 as compared with a net profit of Rs 15.15 crore in Q1 FY24.

Revenue from operations tumbled 45.73% in Q1 FY25 as against Rs 277.89 crore reported in the corresponding period last year.

The company said that the major reason for operational revenue drop is on account of dry-dock repairs/emergency dry-dock repairs of dredgers that are 5 to 6 Nos. However, drydock/emergency dry-dock repairs have been completed all dredgers except one. Further, all these are deployed for dredging activities during July/August 2024. It is expected that Q2 will be performed, in line with revenue guidance, it added.

The company posted a pre-tax loss of Rs 30.98 crore in Q1 FY25 as compared with a profit before tax of Rs 15.66 crore posted in Q1 FY24.

The earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs 13.11 crore in Q1 FY25...

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