HCC sees decline in net profit by 49.74% in Q2

Infrastructure major Hindustan Construction Company (HCC) today posted a 49.74 per cent decline in its net profit to Rs 11.6 crore during the quarter ended September 30, in the current fiscal.

Last year it was Rs 23.08 crore. Its turnover, during the quarter, was at Rs 1,031.9 crore, up by 6.1 per cent from Rs 972 crore in the same period last year.

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The company also reported its Ebitda stood at Rs 148.9 crore as against Rs 195.1 crore in the corresponding quarter last year.

“Volatility in the banking sector had delayed the securing of limits for project working capital and CCEA receivables, which has impacted in the short term our ability to ramp up turnover and achieve material repayment of debt,” Group CFO Praveen Sood said.

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