Outcome of board meeting held on Saturday 14th February 2026
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Duke Offshore's board approved unaudited financial results for the quarter ended December 31, 2025. Revenue from operations was flat at Rs 6.93 lakhs, but the company swung to a profit after tax of Rs 89.41 lakhs in Q3 FY26 compared to a loss of Rs 77.91 lakhs in the same quarter last year. The nine-month loss narrowed sharply to Rs 3.29 lakhs from Rs 166.20 lakhs previously. The profitability boost came mainly from other income of Rs 145.14 lakhs rather than core operations. Statutory auditor Kirtane & Pandit LLP issued an unmodified (clean) review opinion. The company's other equity remained deeply negative at Rs (510.75) lakhs, indicating accumulated past losses.
The return to quarterly profit is encouraging, but the dependence on other income rather than revenue from operations is a concern. Negative reserves signal ongoing structural weakness, so investors should watch whether operational revenue picks up in coming quarters.