Dredging Corporation of India announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2018.

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Dredging Corporation of India announced that the Board of Directors of the Company at its meeting held on 28 May 2018, inter alia, have recommended the final dividend of Rs 2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

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Net profit of Dredging Corporation of India rose 357.49% to Rs 17.11 crore in the quarter ended March 2018 as against Rs 3.74 crore during the previous quarter ended March 2017. Sales rose 17.39% to Rs 152.76 crore in the quarter ended March 2018 as against Rs 130.13 crore during the previous quarter ended March 2017.

For the full year,net profit rose 131.31% to Rs 17.14 crore in the year ended March 2018 as against Rs 7.41 crore during the previous year ended March 2017. Sales rose 1.02% to Rs 591.87 crore in the year ended March 2018 as against Rs 585.87 crore during the previous year ended March 2017.

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Dredging Corporation of India announced that Indian Navy has invited global tenders for Maintenance Dredging of Naval Sites at Mumbai Port for the year 2018-19. DCI participated in the bidding process and stood as the lowest bidder with Rs. 30.76 crore, thereby successfully bagging the work in its order book for next year. The Dredging at Naval Sites at Mumbai Port is to be carried out by Deploying DCI Dredgers.

DCI was one among many International Dredging companies which have participated in the tender and successfully bagged the contract out of stiff competition.

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