Hindustan Construction Company rose 1.53% to Rs 13.30 at 14:33 IST on BSE after the company reported a net profit of Rs 5.40 crore in Q3 December 2013 compared with a net loss of Rs 38.50 crore in Q3 December 2012.
The result was announced during trading hours today, 30 January 2014.
Meanwhile, the BSE Sensex was down 264.09 points, or 1.28%, to 20,383.21.
On BSE, so far 9.56 lakh shares were traded in the counter, compared with an average volume of 7.30 lakh shares in the past one quarter.
The stock hit a high of Rs 14 and a low of Rs 12.80 so far during the day. The stock hit a 52-week high of Rs 18.60 on 4 February 2013. The stock hit a 52-week low of Rs 7.75 on 2 August 2013.
The stock had underperformed the market over the past one month till 29 January 2014, falling 16.61% compared with the Sensex's 2.58% fall. The scrip had underperformed the market in past one quarter, sliding 3.82% as against Sensex's 1.35% fall.
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The small-cap company has an equity capital of Rs 60.66 crore. Face value per share is Re 1.
Hindustan Construction Company's (HCC) turnover fell 14.73% to Rs 870.40 crore in Q3 December 2013 over Q3 December 2012.
EBITDA (earnings before interest, taxes, depreciation and amortization) margin stood at 20.57% in Q3 December 2013.
The company's order backlog stood at Rs 13388 crore, with new orders worth Rs 2040 crore bagged in Q3 December 2013. In addition, the company has L1 contracts worth Rs 1408 crore, HCC said in a statement.
Commenting on the performance, Mr. Praveen Sood, Group Chief Financial Officer, HCC said, "Despite a marginal dip in turnover, the operational efficiency we have achieved clearly manifest in this quarter. The company will continue to implement measures aimed at further improvement in all financial parameters. Inflow of substantially big orders during the quarter will help to improve the turnover in the next few quarters."
HCC said it Swiss subsidiary, Steiner AG, registered a revenue of CHF 188.3 million (Rs 1230.10 crore) and net profit of CHF 1.6 million (Rs 10.20 crore) in Q3 December 2013. Steiner AG secured fresh orders worth CHF 330 million (Rs 2275 crore). The order book as on 31 December 2013 stood at CHF 1.16 billion (Rs 7980 crore). In addition to this, Steiner AG has secured orders for more than CHF 170 million (Rs 1172 crore), where the contracts are yet to be signed, HCC said.
Updating on its subsidiary, Lavasa Corporation, HCC said that the overall development work in Lavasa has picked up pace with over 5300 construction workers on ground, institutional sales have gathered momentum and 165 channel partners have come on board as of 31 December 2013. Till date, 620 residential units have been completed. Steiner India, a subsidiary of Steiner AG has been awarded the contract for construction and development of residential, commercial and institutional complexes at 5 towns of Lavasa. In Mugaon, around 10 lakh square feet development has commenced, while in Dasve around 8 lakh square feet of residential, commercial and social development is underway. Around 1.6 lakh tourists visited Lavasa during last quarter.
For its subsidiary, HCC Infrastructure Company, HCC said that commercial operation of NH34's Baharampore-Farakka section (Package 3) in West Bengal is expected by year end while Farakka-Raiganj section (Package 4) is expected by first quarter of FY 2014-15. These packages have achieved 81% and 67% progress, respectively. With this, the bulk of HCC Infrastructure Company's BOT portfolio will be operational.
HCC develops and builds infrastructure. HCC has executed a maiority of lndias landmark infrastructure projects, having constructed 25% of lndia's Hydel Power generation and over 50% of India's Nuclear Power generation capacities, over 3,364 lane km of Expressway: and Highways, more than 207 km of complex Tunneling and over 324 Bridges. HCC serves the infrastructure sectors of Transportation, Power and Water. HCC is also developing Lavasa City, a planned hill city and one of India's largest urban development and management initiatives. The HCC Group comprises of HCC, HCC Infrastructure Company, HCC Real Estate, Lavasa Corporation and Steiner AG in Switzerland.
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