Quarterly Result: Dredging Corporation of India Ltd

Technical View: 

Dredging Corporation of India Ltd is currently trading at Rs 409.15, down by 9.2 points or 2.2% from its previous closing of Rs 418.35 on the BSE. The scrip opened at Rs 420 and has touched a high and low of Rs 424 and Rs 407, respectively. A total of 48064 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.


Standalone Results Q2FY17:

Dredging Corporation of India’s Q2FY17 declared its standalone numbers. The net revenue for the quarter was marginally lower for this quarter, declining 0.9% YoY to Rs 161 crore.

However, the compay's EBITDA for the quarter dropped 75.5% YoY to Rs 11 crore, with EBITDA margin shrinking 2145 bps YoY to Rs 6.9%.

Also, the company suffered a loss at the bottomline level, showing a net loss of Rs 14 crore as against a net profit of Rs 21 crore during Q2FY16. This was primarily the impact of a 12.8% YoY decline in other income and a 31.5% YoY increase in finance costs.