HCC Q1 result: Firm reports Rs 2.5 crore loss; revenue falls 5.73%
Illustration: Ajay Mohanty
Mumbai-based construction major Hindustan Construction Company (HCC) today reported a consolidated revenue of Rs 1,816 crore, a decline of 5.73 per cent on a yearly basis but an increase of 2.36 per cent on a quarterly basis. The net loss for the June quarter stood at Rs 2.5 crore versus a net profit of Rs 43.6 crore in the same quarter of FY24.
The company also reported consolidated EBITDA margins (excluding other income) at 8.4 per cent compared to 15.4 per cent during the same period of the last financial year.
For Q1 FY25, HCC reported lower standalone revenue at Rs 1,265.7 crore, down by 11.39 per cent, and a 41.19 per cent lower profit after tax at Rs 22.7 crore, and EBITDA excluding other income of Rs 159.3 crore (down by 25.76 per cent), and EBITDA margin (down by 16 per cent) on a quarterly basis.
“It would be better to compare the results of Q1 FY25 with the same period of the last financial year rather than the last quarter. It is seasonal. Monsoon affects construction businesses,” Rahul Shukla, assistant vice president of finance at HCC, told Business Standard.
HCC is set to raise equity of up to Rs 600 crore through a Qualified Institutional Placement (QIP) “to support its accelerated growth plan.”
Besides, Shukla also stated that the company will be working on three upcoming projects, each worth more than a thousand crore, with one being a hydropower plant and the other two being highway infrastructure.
Currently, the company has achieved significant progress while working on the Anji Khad Bridge, DMRC DC06, Mumbai Metro Line 3, Tehri Pumped Storage, and Vishnugad Pipalkoti HEP. Projects like Phase 2 of the Mumbai Coastal Road project, connecting one carriageway to the Bandra Worli Sea Link, were inaugurated earlier this year.
First Published: Aug 05 2024 | 9:58 PM IST