Dredging Company luggage Rs 57 crore contract from Visakhapatnam Port Authority

The Dredging Company of India mentioned the Visakhapatnam Port Authority (VPA) had awarded the corporate an annual upkeep dredging contract for 3 years with a mission price of round Rs 57 crore.

The contract consists of dredging on the New Sand Entice (NST), its strategy and different areas of the VPA and pumping of dredging materials to the shore for seaside vitamin for 3 years 2022-23, 2023-24 and 2024-25.

The annual upkeep sand entice dredging contract award by Visakhapatnam Port Authority is the feather on the cap of Dredging Company of India, Visakhapatnam, which goals to attain a document highest turnover of Rs 1000 crore for this monetary 12 months 2022-23, the corporate mentioned in a press release. .

Dredging Company of India is engaged in offering providers of Capital Dredging, Upkeep Dredging, Seashore Vitamin, Land Reclamation, Shallow Water Dredging, Venture Administration Consultancy and Marine Development.

The corporate reported a standalone internet lack of Rs 15.71 crore for the quarter ended June 2022 as towards a internet lack of Rs 22.72 crore through the earlier quarter ended June 2021. Gross sales grew 82.83% in Q1 FY22 to Rs 217.53 crore in Q1 FY23.

The inventory is at the moment buying and selling at Rs 277.20, down 0.27% on BSE.

operated by Capital Markets – Reside Information

(This story has not been edited by Enterprise Commonplace staff and is routinely generated from a syndicated feed.)

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