Visakhapatnam Port Trust chairman K. Rama Mohana Rao assumed the additional charge of Dredging Corporation of India Limited (DCIL) during the Annual General Meeting on Tuesday. K Rama Mohana Rao is a 1994 batch IAS officer of UP cadre. Previously, he worked in various posts in UP government and his immediate previous posting was as Commissioner, Mirzapur, UP government. His expertise includes Administration, Port & Shipping Sector.
During the 44th Annual General Meeting of the Company, members approved the financial results for the year 2019-20. The profit after tax of the DCIL is Rs. 5.51 crore for the year when compared to Rs. 38 crore for the previous year. The operational income of the company in 2019-20 is Rs 749.69 crore when compared to Rs. 691.74 crores for the previous year. The other income is Rs. 5.60 crore, while the company earned an income of Rs. 6.78 crore for the previous year. The total income for the year is Rs. 755.29 crores against Rs. 698.52 crore of the previous fiscal.
The shareholders in the 44th AGM held on Tuesday approved the above financial results for the year 2019-20. DCIL has been performing the dredging at the Port for the past thirty years. The company also caters to the dredging needs of other major ports and the Indian Navy. The Company is taking capital dredging assignments on the availability of the vessels and other logistic requirements. These works were executed either under the existing contracts or renewal of the contracts entered into with the Ports during the previous years or new contracts entered into during the year.
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