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Seamec slips after Q4 PAT falls 22% to Rs 18 cr

Capital Market 

Seamec fell 2.39% to Rs 461.35 after the company's consolidated net profit skid 21.89% to Rs 17.77 crore on 0.68% rise in revenue from operations to Rs 96.87 crore in Q4 March 2021 over Q4 March 2020.

Profit before tax dropped 25.41% to Rs 18.69 crore in Q4 FY21 as against Rs 25.06 crore in Q4 FY20.

During the financial year, Seamec's consolidated net profit tanked 25.86% to Rs 98.79 crore on 33.14% decrease in revenue from operations to Rs 256.80 crore in FY 2021 over FY 2020.

The board has approved the purchase of a diving support vessel to expand the fleet in line with the company's long-term objective to remain a major player. Further, the board has approved the sale/scrap of vessel Seamec-I, diving support vessel, subject to customs clearance.

Seamec has also confirmed the interim dividend of Re 1 per equity share for the year ended 31 March 2021.

Seamec is the region's leading provider of diving support vessel (DSV) based diving services. It also provides utility services and bulk carrier services.

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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: Tue, June 08 2021. 10:23 IST