HCC slumps on Q4 disappointment, net loss at Rs 50cr
Hindustan Construction Company (HCC) disappointed the street Friday by reporting higher-than-expected fourth quarter (January-March) net loss at Rs 50 crore as against Rs 54.2 crore in a year ago period.
Hindustan Construction Company (HCC) disappointed the street on Friday by reporting higher-than-expected fourth quarter (January-March) net loss of Rs 50 crore. The constrution major had reported Rs 54.2 crore loss same period in the previous year.
The rise in net loss attributed to foreign exchange loss of Rs 11.5 crore in March quarter as against forex gain of Rs 1 crore in corresponding quarter of last fiscal.
In fact, the company failed to impress with numbers on all parameters.
Total income fell by 15 percent to Rs 983 crore from Rs 1,158 crore year-on-year.
According to the average of the CNBC-TV18 poll, Mumbai-based construction company was expected to report net loss of Rs 39 crore on total income of Rs 1,168 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) declined slightly to Rs 89 crore from Rs 90 crore Y-o-Y, which was expected by analysts at Rs 118 crore.
EBITDA margin increased lower-than-expected 130 basis points Y-o-Y to 9.1 percent in fourth quarter as against forecast of 10.1 percent.
At 13:26 hours IST, the stock was quoting at Rs 14.07, down 1.19 percent on Bombay Stock Exchange.