HCC Reports Q1 FY25 Consolidated Loss of Rs 2.5 Crore

Engineering and construction giant HCC reported a consolidated loss of Rs 2.5 crore for Q1 FY25, a sharp contrast to the Rs 43.6 crore profit seen in the same period last year. The company's income dropped from Rs 1,943.23 crore to Rs 1,835.65 crore over the same period.

Engineering and construction leader HCC has announced a consolidated loss of Rs 2.5 crore for the quarter ending June 30, 2024. This marks a significant downturn from its profit of Rs 43.6 crore in the corresponding quarter last year.

The company's income fell to Rs 1,835.65 crore from Rs 1,943.23 crore during the same period the previous year. As of June 30, 2024, HCC's order book stood at Rs 9,534 crore.

On a standalone basis, HCC saw its Q1 net profit rise to Rs 22.75 crore from Rs 18.95 crore year-on-year, with income increasing to Rs 1,286.38 crore from Rs 1,248.55 crore. The company is focusing on accelerating order bookings and has the lowest bids for projects worth Rs 4,633 crore. It is also actively working on a future bid pipeline of Rs 40,000 crore and plans to raise equity up to Rs 2,600 crore through a qualified institutional placement to support growth plans.

(With inputs from agencies.)