The Profit after tax of Dredging Corporation of India is Rs.1664.27 lakh for the year as compared to Rs.712.26 lakh for the previous year. The operational income of the Company is Rs.59187.36 lakh as compared to Rs.58514.77 lakh for the previous year. The other income is Rs.2024.54 lakh as compared to Rs.1381.78 lakh for the previous year. The total income for the year is Rs.61211.90 lakh as compared to Rs.59896.55 lakh for the previous year. The shareholders in the 42nd AGM held on 13-08-2018 approved the above financial results for the year 2017-18.
The Company has been performing the dredging at Haldia Port for the past thirty years. The company also caters to the maintenance dredging requirements of other major ports/Indian Navy etc., The Company is taking capital dredging assignments on the availability of the vessels and other logistic requirements.
During the year under review, maintenance dredging contracts were executed for Kolkata Port, Cochin Port Trust, Cochin Shipyard, RGPPL-Dabhol, Gangavaram, Mumbai Port Trust and New Sand Trap and its approaches of Visakhapatnam Port Trust. Capital Dredging Contracts were executed at Paradip Port, Bangladesh, Andaman and Nicobar Island, Puducherry, Gogha and Dahej.
The above works were executed either under the existing contracts or renewal of the contracts entered into with the Ports etc., during the previous years or new contracts entered into during the year.
Dividend @ 20% on the paid up capital of Rs.28 Cr. of the company i.e Rs.2 per equity share of Rs.10 each has been declared at the 42nd Annual General Meeting held on 13/8/18 amounting to Rs. 5.6 Cr. for the year 2017-18. President of India holds 73.47 % of the share capital of the Company.The Dividend pertaining to President of India of Rs. 4,11,44,026 (Rs. 4.11 Cr.) was handed over to central minister Nitin Gadkari.
The Company’s earning per share for 2017-2018 is Rs.5.94 as compared to Rs.2.54 for the previous year