Hindustan Construction Company's Q3 Loss Amid Tax Regime Shift

Hindustan Construction Company (HCC) reported a consolidated loss of Rs 38.92 crore for Q3 2024, affected predominantly by a change in tax regime. The company's total income and expenses declined compared to the previous year. HCC successfully raised Rs 600 crore through institutional placement.

In the third quarter ending December 2024, Hindustan Construction Company (HCC) announced a consolidated loss of Rs 38.92 crore, primarily due to a shift in the tax regime, down from the previous year's Rs 233.22 crore net loss.

The company's total income for Q3 declined to Rs 1,066.16 crore from Rs 1,512.37 crore in the same quarter last year, accompanied by a reduction in total expenses to Rs 1,309.89 crore from Rs 1,412.50 crore.

HCC's order book reached Rs 9.758 crore as of December 31, 2024, bolstered by a successful Rs 600 crore capital raise via Qualified Institutional Placement during the fiscal quarter, confirming its strong position in sectors like transportation, power, and water infrastructure.

(With inputs from agencies.)