HCC Reports Q1 Loss, Focuses on Order Booking
Aug 05, 2024 18:16
Hindustan Construction Company (HCC) reported a consolidated loss of Rs 2.5 crore for Q1 FY25. The company is focusing on accelerated order booking with a bid pipeline of Rs 40,000 crore.
Photograph: Parth Sanyal/Reuters
New Delhi, Aug 5 (PTI) Engineering and construction major HCC on Monday reported a consolidated loss of Rs 2.5 crore for the quarter ended June 30, 2024.
The company had posted a profit of Rs 43.6 crore in the year-ago period, Hindustan Construction Company (HCC) said in a filing to BSE.
Income during April-June FY25 dropped to Rs 1,835.65 crore from Rs 1,943.23 crore in the year-ago period.
The company's order book stood at Rs 9,534 crore as of June 30, 2024.
On a standalone basis, the net profit during the first quarter rose to Rs 22.75 crore from Rs 18.95 crore in the year-ago period.
Income increased to Rs 1,286.38 crore from Rs 1,248.55 crore.
The company said its focus is now on the accelerated order booking. It is the lowest bidder in projects worth Rs 4,633 crore, and work is underway on a future bid pipeline of Rs 40,000 crore.
The company plans to raise equity of up to Rs 2,600 crore through a qualified institutional placement to support its growth plan.
HCC has constructed 26 per cent of country's hydro power generation and 60 per cent of nuclear power generation capacities, over 4,036 km of expressways and highways, more than 402 km of tunnelling and 403 bridges.
HCC serves the infrastructure sectors of transportation, power and water.
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