Dredging Corp Q3 net profit at Rs 14 cr

Dredging Corporation of India (DCI) today reported a net profit of Rs 14 crore for the quarter ended December 31.

DCI, under the Ministry of Shipping, had posted a net loss of Rs 19.62 crore in the October-December quarter of the previous fiscal.

Its income from operations declined to Rs 151.89 crore during the quarter as against Rs 161.40 crore in the same period of the previous fiscal.

The company's total expenses declined to Rs 134 crore during the quarter under review as against Rs 177.96 crore in the corresponding period last fiscal.

DCI has recently won a Rs 1,119-crore contract for dredging of a shipping channel at Kolkata Port in a global bidding in which seven players participated.

DCI has been carrying out the maintenance dredging works for Kolkata Port channels for the past 30 years.