Dredging Corporation of India reported a weak financial performance for the third quarter, with earnings coming under pressure due to lower revenues and profitability on a year-on-year basis.
For Q3, the company posted 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 the combined impact of reduced operating income and higher cost pressures during the period.
Revenue for the quarter declined by 15% YoY to ₹276 crore, down from ₹324.4 crore reported in Q3 of the previous financial year. The fall in revenue indicates softer execution and lower activity levels across projects during the quarter.
Operating performance also weakened significantly. EBITDA fell 37% YoY to ₹33 crore, compared with ₹52.2 crore in the year-ago period. As a result, the EBITDA margin contracted to 11.9%, versus 16.1% reported last year, highlighting reduced operating leverage and margin pressure.