Hindustan Construction Company Q3 Net Profit Falls 9% To Rs 25.19 Crore

Hindustan Construction Company (HCC) on Thursday reported a 9.22 per cent decline in its December quarter net profit at Rs 25.19 crore.

The company had clocked a net profit of Rs 27.75 crore in the year-ago period, according to a BSE filing.

Its total income during October-December 2022 marginally rose to Rs 1,167.13 crore, compared with Rs 1,169.63 crore in the corresponding period last fiscal.

Total expenses also increased marginally to Rs 1,141.36 crore in the current financial year, from Rs 1,141.18 crore a year ago.

Its order book stood at Rs 12,675 crore as of December 31, 2022.

The company, in a statement, said tunnelling was completed for Delhi Metro Rail Corporation DC-06 package and Head Race Tunnel hole-through was achieved at Nikachhu Hydroelectric Project in Bhutan during October-December 2022.

Launching of 36 out of 47 segments has been completed at Anji-Khad Bridge, the first cable-stayed bridge (193m high and 473m long) of Indian Railways, it added.

The company has recognised net deferred tax assets amounting to Rs 741.74 crore as on December 31, 2022 mainly on account of carried forward unused tax losses, unused tax credits and other taxable temporary differences.