HCC Reports 22.12% Rise in Net Profit Driven by Strategic Projects

Hindustan Construction Company (HCC) reported a 22.12% increase in consolidated net profit, reaching Rs 246.2 crore for Q4 FY24. Despite a decline in total income and expenses, the company showcased significant growth driven by key projects, including the completion of the Nikachhu Hydropower project in Bhutan and infrastructure advancements in Mumbai and West Bengal.

Hindustan Construction Company (HCC) on Friday reported 22.12 per cent rise in consolidated net profit at Rs 246.2 crore for the quarter ended March 2024.

The company had clocked a profit of Rs 201.6 crore in the year-ago period, it said in a BSE filing.

Total income during the quarter under review stood at Rs 1,813.05 crore compared to Rs 2,437.23 crore a year ago.

Total expenses declined to Rs 2,073.33 crore from 2,398.69 crore earlier.

For the entire 2023-24, it logged a consolidated net profit of Rs 529.42 crore. It had incurred a net loss of Rs 52.51 crore in FY23.

''We will settle for nothing less than rapid growth of our order backlog in FY25, with no compromise on quality and profitability,'' HCC vice chairman Arjun Dhawan said.

The company in a statement said it completed the Nikachhu Hydropower project in Bhutan in March 2024. In Mumbai, the company installed two arch bridges, connecting the Coastal Road to Bandra Worli Sea link.

In NH34 package 3 in West Bengal, all works are complete, and final commercial operation has been awarded for the last stretch of 9.8 kilometre, HCC said.

HCC Group, with a turnover of Rs 7,007 crore, comprises HCC Ltd, HCC Infrastructure Co Ltd, and Steiner AG in Switzerland.

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