VISAKHAPATNAM: Dredging Corporation of India Limited (DCIL) registered a profit, after tax, of `62 crore for the 2014-15 fiscal with a growth of 62 per cent over the previous fiscal. During the 2013-14, the DCIL had registered a profit of `38 crore.
For the first time in recent years, the capacity utilisation of the company was 100 per cent in terms of both targeted days and volume during the 2014-15 fiscal.
The DCIL earning per share for 2014-2015 was `22.29 compared to `13.41 the previous year and registered a jump of 66 per cent.
The company gave a dividend of 30 per cent on the paid up capital of the company i.e `3 per equity share of `10 each was declared for 2014-15, like the previous year’s.
The DCIL has been catering to the dredging requirements of Haldia/Kolkata Port for the past 30 years. The company also caters to the maintenance of dredging requirements of other major ports and the India Navy. The Company takes up capital dredging assignments depending on the availability of the vessels and other logistic requirements.
During the year under review, maintenance dredging contracts were executed for Haldia/Kolkata Port Trust, the port trusts of Visakhapatnam, Cochin and Kandla. Capital dredging contracts were executed at Kandla Port Trust, Cochin Port Trust, Visakhapatnam Port Trust and Ennore port.
The works were executed either under the existing contracts or renewal of the contracts entered into with the ports during the previous years or new contracts entered into during the year.
As a part of its corporate social responsibility agenda, during 2014-15 the company spent the highest of amount, `1.20 crore, on the CSR activities.
The company has taken up construction of toilets in 10 government schools and purchase of medical equipment for KGH at a cost of `1.20 crore, and donated `50 lakh to the Andhra Pradesh Chief Minster’s Relief Fund for providing relief to those affected by the Hudhud cyclone.