Hindustan Construction Company posts net profit of Rs 5.4 crore in Q3, bets on big orders for a better Q4

Mumbai, Jan 31 2014: Hindustan Construction Company (HCC) registered a standalone net profit of Rs 5.4 crore in the third quarter ended December 31 against a net loss of Rs 38.5 crore in the same period last year.

Total income from operations declined by nearly 15% to R870 crore year-on-year, while the Ebidta margins stood at 20.57% as the company reduced its expenses by a fourth to Rs 713 crore.

HCC’s order backlog stood at Rs 13,388 crore, with new orders worth Rs 2,040 crore this quarter, said a company statement. In addition, the company has L1 contracts worth Rs 1,408 crore.

Praveen Sood, group chief financial officer, HCC, said, “Despite a marginal dip in the turnover, the operational efficiency we have achieved clearly manifests in this quarter. The company will continue to implement measures aimed at further improvement in all financial parameters. Inflow of substantially big orders during the quarter will help to improve the turnover in the next few quarters.”

Courtesy: The Financial Express