Hindustan Construction Company (HCC), one of the India's leading infrastructure companies, disclosed a sharp drop in standalone net profit for the quarter ended March 2015. During the quarter, the profit of the company declined 15.37% to Rs 206.50 million from Rs 244 million in the same quarter previous year.

 

Net sales for the quarter declined marginally 3.57% to Rs 11,606.70 million, compared with Rs 12,036.10 million for the prior year period.

 

Earnings per share for the quarter stood at Rs 0.32, registering 20% decline over previous year period.

 

Commenting on the company's performance, Ajit Gulabchand, chairman and managing director said, ''This is a trying period for Indian infrastructure sector, as the government has a huge task at hand to clear stalled projects and removing bottlenecks, which will take some time. In such a backdrop, our focus will remain on improving the operational efficiency and recovery of our claims. HCC will continue to focus on exiting non-core businesses and operating assets along with realising claims to further improve all our financial parameters in the coming year.''

 

 

                                             

Quarterly Results - Standalone (Rs in mn)
As at	Mar - 15	Mar - 14	%Change
Net Sales	11,606.70	12,036.10	(3.57)
Net Profit	206.50	244.00	(15.37)
Basic EPS	0.32	0.40	(20.00)

 

Shares of the company declined Rs 0.85, or 2.61%, to settle at Rs 31.75. The total volume of shares traded was 1,269,512 at the BSE (Thursday).