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Dredging Corp declines after Q4 loss widens

Capital Market 

Dredging Corporation of India declined 2.34% to Rs 404.15 after the company posted a net loss of Rs 110.81 crore in Q4 FY21, higher than net loss of Rs 4.38 crore registered in Q4 FY20.

Net sales declined 6.9% to Rs 211.88 crore in Q4 FY21 from Rs 227.62 crore in Q4 FY20. The company's pre-tax loss stood at Rs 110 crore in Q4 FY21 compared with pre-tax profit of Rs 2.7 crore registered in Q4 FY20.

For the year ended March 2021 (FY21), the company posted a net loss of Rs 172.41 crore as against net profit of Rs 5.51 crore in the year ended March 2020 (FY20). Net sales rose 1.9% to Rs 763.76 crore in FY21 over FY20.

Dredging Corporation of India is engaged in providing the services of capital dredging, maintenance dredging, beach nourishment, land reclamation, shallow water dredging, project management consultancy, marine construction.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, June 30 2021. 11:03 IST