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Dredging Corporation of India's turnover has suffered a slump of more than Rs 100 crore during 2010-11 and it is attributed to the ageing fleet of the Vizag-based PSU.
According to a press release, the annual general meeting of the DCI was held in New Delhi earlier in the day and the financials were taken on record.
performance
During 2010-11, DCI achieved a turnover of Rs 523 crore as against Rs 694 crore in the previous year.
The operational income was Rs 458 crore (Rs 645 crore).
The profit before tax was Rs 45 crore, down from Rs 77 crore, and the profit after tax stood at Rs 40 crore (Rs 70 crore).
The press note adds that steps are being taken to augment the fleet of the DCI and to replace the aged dredgers.
During the year, maintenance dredging contracts were executed at Kolkata, Visakhapatnam, Mormugao and New Mangalore Port and capital dredging at Ennore and Paradip.
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