India: DCI Announces Trade Results

Dredging Corporation of India, engaged in providing dredging services to the major ports of the country has posted robust growth of 3.99 times in its net profit at Rs 157.6 million for the June 2010 quarter as against Rs 31.6 million for the June 2009 quarter.

Net sales of the company decreased by 31.19% to stand at Rs 1,105.5 million for June 2010 quarter as against Rs 1,606.6 million in the corresponding quarter a year ago.

Dredging Corporation had underperformed the market over the past one month till Aug. 04, 2010, falling 4.76% compared with the Sensex`s 4.33% rise. It underperformed the market in past one quarter, declining 1.15% as against 6.30% rise in the Sensex.

Shares of the company gained Rs 8.5, or 1.49%, to settle at Rs 579.95. The total volume of shares traded was 102,391 at the BSE.



Source: myiris, August 5, 2010