Companies

Hind Construction profit halves on higher interest cost

Our Bureau Mumbai | Updated on April 29, 2011 Published on April 29, 2011

Hindustan Construction Company, on a standalone basis, has posted a 47 per cent fall in net profit at Rs 23 crore for the fourth quarter ended March 31, 2011, as against Rs 43 crore in the same period last year.

Interest cost more than doubled to Rs 90 crore from 44 crore in the quarter under review. Total revenue rose to Rs 1,215.57 crore (Rs 1,089.22 crore). HCC's order book stands at Rs 18,127 crore.

The company said the Group's turnover crossed Rs 7,000 crore in FY 2010-11, with significant contribution from recently-acquired Switzerland-based company, Karl Steiner AG.

The HCC board has declared a dividend of 40 paise a share. For the full year, HCC posted a net profit of Rs 71 crore, down from Rs 81.44 crore in 2010. Total revenue increased to Rs 4,144 crore (Rs.3,863 crore). HCC said Lavasa Corporation's performance was adversely impacted by the Ministry of Environment and Forest's stop work order. Lavasa reported a net profit of Rs 111.9 crore (Rs 140.2 crore) for the full year, with turnover rising marginally to Rs 533.7 crore (Rs 478.6 crore). On Friday, HCC scrip on the BSE closed marginally down at Rs 35.35.

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Published on April 29, 2011
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