HCC Posts Rs 63 Cr Profit in Q2: Revenue Dips

New Delhi, Oct 29 (PTI) Hindustan Construction Company (HCC) on Tuesday reported multi-fold rise in consolidated net profit to Rs 63.93 crore during the September quarter.

The company had posted a consolidated net profit of Rs 6.38 crore in the year-ago period, HCC said in a regulatory filing.

However, the consolidated income of the company during the July-September period declined to Rs 1,432.41 crore, from Rs 1,870.79 crore a year ago, the filing said.

HCC's consolidated expenses declined to Rs 1,350.09 crore as against Rs 1,862.64 crore a year ago, it said.

During the quarter, the company received its project taking over certificate for Delhi Metro's DC06 package and the south-bound arm of the Mumbai Coastal Road Project was inaugurated by the Maharashtra Chief Minister, HCC said in a statement.

HCC said the company has submitted bids worth Rs 3,800 crore which are under evaluation while work is underway on a future bid pipeline of Rs 46,000 crore.

The company plans to raise equity through a qualified institutional placement to support its accelerated growth plan, it added.