HCC Achieves Stunning Profit Growth Amid Declining Revenue

Hindustan Construction Company (HCC) reported a dramatic increase in net profit for the September quarter, achieving Rs 63.93 crore compared to Rs 6.38 crore last year. Despite the revenue decline, the company unveiled ongoing projects and plans for future bids, aiming to support growth through equity initiatives.

Hindustan Construction Company (HCC) has reported a substantial surge in its consolidated net profit, reaching Rs 63.93 crore for the September quarter. This marks a significant improvement from the Rs 6.38 crore recorded during the same period last year, according to the company's latest regulatory filing.

Despite this impressive profit increase, the company experienced a notable downturn in its consolidated income, which fell to Rs 1,432.41 crore from Rs 1,870.79 crore in the corresponding period of the previous year. The downturn in income was accompanied by a reduction in consolidated expenses, which decreased to Rs 1,350.09 crore as opposed to Rs 1,862.64 crore recorded last year.

HCC continues to be active in major infrastructure projects, having received the project completion certificate for Delhi Metro's DC06 package and inaugurating the south-bound arm of the Mumbai Coastal Road Project. Additionally, HCC announced ongoing bids worth Rs 3,800 crore, with a future bid pipeline of Rs 46,000 crore. The company aims to support its growth by raising equity through a qualified institutional placement.

(With inputs from agencies.)