Hindustan Construction Company Reports Quarterly Profit Decline

Hindustan Construction Company (HCC) announced a 25.26% drop in its net profit for the September quarter, amounting to Rs 47.78 crore. The company's income and expenses also declined compared to last year. Despite this, HCC secured new orders and maintained a strong bid pipeline, indicating robust business momentum.

On Thursday, Hindustan Construction Company (HCC) disclosed a significant 25.26% downturn in its consolidated net profit for the September quarter, with figures standing at Rs 47.78 crore. This marks a drop from the Rs 63.93 crore profit recorded during the same period last year, as revealed in their regulatory filing.

The firm's consolidated income for the July-September timeframe saw a reduction to Rs 983.25 crore, down from Rs 1,432.41 crore in the previous year. Similarly, HCC's consolidated expenses decreased to Rs 938.72 crore, compared to Rs 1,350.09 crore a year prior.

Despite these declines, HCC has shown success in securing new business, acquiring three significant orders including packages for the Patna Metro and an Aluminium smelter expansion project for Hindalco, altogether worth Rs 2,770 crore. Moreover, the company emerged as the lowest bidder for a Rs 840 crore project. With a robust bid pipeline approximated at Rs 57,000 crore, HCC demonstrates strong business momentum and a promising outlook.

(With inputs from agencies.)