Hindustan Construction Company (HCC), one of the India's leading infrastructure companies, on Thursday posted a fall of 78.61% in net profit for the second quarter. The company reported a net profit of Rs 67.6 million for the second quarter ended Sept. 30, 2014 compared with Rs 316 million in the same period last year.
Total income of the company increased 4.71% to Rs 9.32 billion for the quarter ended Sept. 30, 2014 from Rs 8.90 billion in the year ago period.
The turnover in Q2 stood at Rs 9.59 billion compared to Rs 9.09 billion in the previous year. EBITDA margins came at 18.8% compared to 10% on YoY basis.
Current order book stood at Rs 136.79 billion excluding L1 contracts worth Rs 23.72 billion.
Commenting on the company's performance, Praveen Sood, group CFO said, ''The performance is to be viewed keeping in mind that extra ordinary flood affected operations at Jammu & Kashmir, where the company is executing major projects. However, sustained and focused efforts to improve its operational efficiency helped in maintaining the turnover growth in spite of this setback. The company is fully geared to take up new projects to be announced by the government. HCC will further aim at consolidating its financial parameters in the coming quarters.''
