A 300% profit surge sends Dredging Corp shares flying by over 11% today
Jagruti Jain
Shares of Dredging Corporation of India climbed more than 11% in early trade on May 20 after the company reported a sharp jump in profitability for the March quarter. The stock was trading at ₹1,117.35, up 11.21%, after hitting an intraday high of ₹1,137.90 on the NSE.
The company reported a net profit of ₹87 crore for Q4 FY26, marking a 306.3% jump compared to ₹21 crore in the corresponding quarter last year.
Revenue for the quarter rose 3.4% year-on-year to ₹478 crore from ₹462 crore, while EBITDA surged 86.5% to ₹143 crore against ₹77 crore reported a year ago.
Operational performance also improved significantly, with EBITDA margin expanding to 29.9% from 16.6% in the year-ago period.
The strong margin expansion and sharp rise in earnings appeared to boost investor sentiment, with the stock witnessing heavy buying activity during the session. Volumes on the counter crossed 17.8 lakh shares in early trade.
The stock opened at ₹1,040 and touched a low of ₹1,035.20 before extending gains. Dredging Corporation’s 52-week high stands at ₹1,245, while the 52-week low is ₹538.
The company operates in the dredging and maritime infrastructure segment and undertakes maintenance dredging, capital dredging, beach nourishment and offshore services across Indian ports.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.