Shares of Dredging Corporation of India declined sharply by over 10% in trade after the company reported a weak set of financial results for the third quarter, marked by lower revenue, declining operating performance, and a swing into losses on a year-on-year basis.
For Q3, Dredging Corporation of India reported a net loss of ₹24.6 crore, compared with a net profit of ₹16 crore in the corresponding quarter last year. The sharp reversal into losses reflects pressure on both the top line and margins, alongside higher cost intensity during the quarter.
Revenue for the quarter fell 15% YoY to ₹276 crore, down from ₹324.4 crore reported in Q3 of the previous financial year. The decline in revenue points to softer execution levels and reduced activity across ongoing dredging projects during the period, which impacted overall operational throughput.
Operating performance also weakened significantly. EBITDA declined 37% YoY to ₹33 crore, compared with ₹52.2 crore in the year-ago quarter. Consequently, the EBITDA margin contracted to 11.9%, from 16.1% last year, indicating reduced operating leverage and sustained margin pressure.
