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Jul 27, 2012, 02.06 PM IST
Hindustan Construction Company (HCC) posted lower than expected loss of Rs 30.9 crore in the quarter ended June 2012 as against a forecast of loss of Rs 44 crore crore. Company had recorded a standalone profit after tax of Rs 3 crore in a year ago period.
Hindustan Construction Company (HCC) posted lower than expected loss of Rs 30.9 crore in the June quarter boosted by higher other income. The company’s losses would have been wider, had the income not risen 178% to Rs 52 crore
Analysts on an average has forecast a loss of Rs 44 crore crore.
The disappointing factor for the company is that the order book has been declining quarter after quarter. Order book fell by 2% to Rs 15,020 in the June quarter against Rs 15,336 crore, quarter-on-quarter. HCC said it has restructured red debt worth Rs 3200 crore during the quarter.
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