Dredging Corporation of India Standalone Q4 Profit Falls

Dredging Corporation of India, a miniratna Indian public sector unit engaged in business of dredging, reported a decline in standalone net profit for the quarter ended March 2013.

During the quarter, the profit of the company fell 60.70% to Rs 113.8 million from Rs 289.6 million in the same quarter previous year.

Net sales for the quarter rose 14.70% to Rs 1,875 million when compared with the prior year period.

Shares of the company declined Rs 1.3, or 0.59%, to trade at Rs 219.65. The total volume of shares traded was 134 at the BSE (10.25 a.m., Wednesday).

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Source: IRIS, May 30, 2013