The company had reported a Rs 30.42-crore profit after tax during the same period a year ago.
Its total income also dropped to Rs 206.90 crore during the reported quarter from Rs 588.76 crore in the year-ago period, the company said in a BSE filing.
In a separate filing, the company said its board has given approval to demerge the company's dredging business.
"Board of directors has approved the de-merger of dredging business into a separate entity," Mercator said.
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