Dredging Corporation of India Shares Surge After ₹2,157 Crore Fuel Supply Agreement with IOCL
Dredging Corporation of India gains after inking Rs 2,157-cr fuel supply MoU with IOCL
Business Standard
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Dredging Corporation of India (DCI) shares rose by 8.53% to ₹1,060 following a ₹2,157.07 crore fuel supply agreement with Indian Oil Corporation (IOCL). This five-year MoU aims to enhance DCI's operational reliability and support India's maritime infrastructure development.
- 01DCI shares increased by 8.53% after signing a significant MoU with IOCL.
- 02The MoU is valued at ₹2,157.07 crore and spans five years.
- 03DCI reported a net loss of ₹24.63 crore in Q3 FY26, contrasting with a profit in the previous year.
- 04IOCL's net profit surged by 321.98% to ₹12,125.86 crore in Q3 FY26.
- 05The agreement aims to ensure a steady fuel supply for DCI's dredging operations across India.
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Shares of Dredging Corporation of India (DCI) surged by 8.53% to ₹1,060 after the company signed a ₹2,157.07 crore memorandum of understanding (MoU) with Indian Oil Corporation (IOCL) for fuel supply. This five-year agreement is designed to provide a reliable fuel source for DCI's dredging fleet, enhancing operational efficiency and supporting India's maritime infrastructure development. Despite this positive news, DCI reported a standalone net loss of ₹24.63 crore in Q3 FY26, down from a profit of ₹16.06 crore in Q3 FY25, with revenues declining by 14.9% year-on-year to ₹276.08 crore. In contrast, IOCL experienced a remarkable 321.98% increase in standalone net profit, reaching ₹12,125.86 crore in Q3 FY26, compared to ₹2,873.53 crore in the same quarter last year. The revenue from IOCL's operations rose by 5.43% year-on-year to ₹204,424.39 crore.
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This agreement will help stabilize fuel supply for DCI, potentially improving service delivery for major ports and national projects, which can benefit local economies reliant on maritime infrastructure.
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