Dredging Corp Q3 PAT slips 41% YoY to Rs 16 crore

Dredging Corporation of India has reported a 41.02% drop in net profit to Rs 16.06 crore in Q3 FY25, compared to Rs 27.23 crore posted in same quarter last year.

Revenue from operations rose by 22.24% year on year (YoY) to Rs 324.44 crore in the December 2024 quarter.

Profit before exceptional items and tax in Q3 FY25 was at Rs 18.36 crore, down 33.74% from Rs 27.71 crore recorded in Q3 FY24. Exceptional loss stood at Rs 1.59 crore in Q3 FY25.

Total expense jumped 35.57% year on year to Rs 323.38 crore during the quarter. Employee benefits expense stood at Rs 23.72 crore (down 1.04% YoY), while other expenses stood at Rs 159.42 crore (up 63.83% YoY) during the period under review.

On a 9-month basis, the companys net loss stood at Rs 48.85, compared to a net profit of Rs 59.15 crore in 9M FY24. Revenue from operations advanced 1.82% YoY to Rs 679.73 crore in the quarter ended 31 December 2024.

Dredging Corporation of India carries out dredging activities including capital dredging, maintenance dredging, as well as beach nourishment and land reclamation for Indian ports and the Navy. The consortium of four port trustsJajaharlal Nehru Port Trust, Deendayal Port Trust, Paradip Port Trust, and Visakhapatnam Port Trustcurrently holds a 73.47% shareholding in the company, with the remaining being held by the public.

Shares of Dredging Corporation added 3.10% to Rs 719.90 on the BSE.

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