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Dredging Corporation of India (DCI) has declared a dividend of 30 per cent on the paid-up capital of the company against 20 per cent last year. The annual general body meeting was held in New Delhi on Monday.
The Visakhapatnam-based public sector company saw a 21 per cent rise in operational income for 2013-14 to ₹770.4 crore, compared with ₹635 crore in the year before.
Total income for the year was ₹772.7 crore against ₹638 crore in FY-13. DCI is targeting a turnover of ₹850 crore for the current fiscal.
The company reported an 83-per cent jump in profit after tax to ₹37.54 crore for the last fiscal, compared with ₹20.5 crore in the previous year.
DCI’s earning per share for 2013-14 was ₹13.41 (₹7.32). The year was “a momentous one in the history of the company with two of the three trailer suction hopper dredgers, order for which had been placed in 2010-11, joining the fleet in June 2013 and March 2014, respectively.” The first dredger had joined the fleet in December 2012.
The company has proposals to purchase two more higher capacity dredgers in the 12th Plan. It has placed orders for procurement of ancillary crafts that are expected to be delivered by end of this calendar year.
The DCI has been catering to the dredging requirements of the Haldia/ Kolkata Port for 30 years. During FY14, maintenance dredging contracts were executed for Haldia/ Kolkata Port Trust, Visakhapatnam Port Trust, Cochin Port Trust, and Kandla Port Trust.
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