HCC reported a net loss of Rs 216 crore in Q3FY25, a stark contrast to the Rs 68.5 crore profit
The rights issue committee approved the allotment of 166,666,666 equity shares at a price of Rs 21 each, the civil construction firm said in a filing to the BSE.
The company had posted a consolidated net profit of Rs 139.23 crore in the year-ago period, HCC said in a filing to BSE.
Total income during the quarter under review stood at Rs 2,946.16 crore, compared to Rs 2,398.38 crore in the year-ago period.
CNBC-TV18's Kevin Lee caught up with Praveen Sood, Group CFO of HCC and asked him about their Q1 performance and if the worst is over for the company.
The biggest chunk of the order worth Rs 433 crore is from Bihar Rajya Pul Nirman Nigam for construction of a bridge to be built over the Sone river connecting Daudnagar and Nasirganj in Aurangabad and Rohtas districts.
Commenting on the results, Chief Financial Officer Praveen Sood said in a separate statement that "despite a marginal dip in turnover, the operational efficiency we have achieved clearly manifests in this quarter."
Leading infrastructure firm Hindustan Construction Company (HCC) today said it has bagged a railway tunnel construction contract worth Rs 230.98 crore in joint venture with Coastal Projects Ltd from Northeast Frontier Railway.