Hindustan Construction Company (HCC) announced on Thursday a 25.26 percent decrease in its consolidated net profit, which amounted to Rs 47.78 crore for the September quarter. In the same period last year, the company reported a consolidated net profit of Rs 63.93 crore, as stated in a regulatory filing by HCC.
The consolidated income for the July-September period fell to Rs 983.25 crore, down from Rs 1,432.41 crore a year earlier, the company added. Additionally, HCC’s consolidated expenses decreased to Rs 938.72 crore compared to Rs 1,350.09 crore in the previous year.
The company highlighted its ongoing success in securing orders, having obtained three contracts, which include two packages for the Patna Metro and an expansion project for an Aluminium smelter from Hindalco, amounting to a total of Rs 2,770 crore.
Furthermore, HCC was the lowest bidder for a project valued at Rs 840 crore. HCC also mentioned that its bid pipeline remains strong, estimated at around Rs 57,000 crore, indicating robust business momentum and a positive outlook.
