HCC Q1 profit plunges 47% to 22 crore rupees

摘要

Leading infrastructure firm Hindustan Construction Company reported a 47.4% drop in net profit to INR 22.6 crore for the Q4 ended March 31st against Rs. 43 crore in the corresponding quarter last year. The company reported a net loss of INR 64.6 crore on a consolidated basis for 2010 to 2011 as against a net profit of INR 5.8 crore in 2009 to 2010. Income from operations of the company grew to INR 7,152.5 crore during the period from INR 3,975.2 crore in 2009 to 2010. It said the HCC group has adopted a new policy for contracts given on a build operate transfer basis due to which INR 119.3 crore has been accounted as exceptional items.