Dolphin Offshore Reports Strong Growth Amid Mixed Financial Indicators and Challenges

Dolphin Offshore Enterprises (India) has recently undergone an evaluation adjustment, reflecting notable shifts in its financial metrics and market position. The company reported a positive financial performance for the quarter ending June 2025, with net sales reaching Rs 36.88 crore, marking a significant growth of 258.41% over the latest six months. Additionally, the profit after tax (PAT) for the same period was Rs 21.78 crore, demonstrating a growth rate of 158.06%.
However, the evaluation adjustment also highlights some challenges. The net sales for the most recent quarter were recorded at Rs 16.44 crore, indicating a decline of 11.1% compared to the previous four-quarter average. Furthermore, the operating profit to interest ratio was noted at its lowest point of 6.32 times, and the debt-equity ratio stood at 0.61 times, which is the highest observed in the half-year period.

Despite these mixed indicators, Dolphin Offshore has maintained a strong ability to service its debt, evidenced by a low debt to EBITDA ratio of 0.98 times. The company has also consistently reported positive results over the last five consecutive quarters, showcasing its resilience in the oil exploration and refinery sector.

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