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Mumbai-based Hindustan Construction Company, on a standalone basis, has posted a net loss of Rs 31 crore for the quarter ended June 30, 2012.
It had logged a net profit of Rs 2.87 crore for the same period last year.
HCC registered a turnover of Rs 969 crore (Rs 1,060 crore). Operating profit was at Rs 69 crore. The company's order book stood at Rs 15,020 crore.
HCC said the Corporate Debt Restructuring Empowered Group has approved the restructuring of its debt of about Rs 3,200 crore. The restructuring will improve cash flow and provide room for operating, it said.
Mr Praveen Sood, Group Chief Finance Officer, HCC, said, “Our quarterly performance reflects the stress faced by the infrastructure sector. Delays in decision making and in environmental clearances have caused a sharp drop in the visible order book for the sector. Recent government announcements give us reason to be optimistic on faster clearances and new projects announcements.”
The company scrip ended down 1.18 per cent at Rs 16.70 on the BSE.
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