HCC hit an upper circuit limit of 20% at Rs 9.56 at 14:06 IST on BSE after the company reported a net profit of Rs 19.20 crore in Q1 June 2013 compared with a net loss of Rs 30.90 crore in Q1 June 2012.
The company announced the result during trading hours today, 2 August 2013.
Meanwhile, the S&P BSE Sensex was down 124.91 points, or 0.65%, to 19,192.28.
On BSE, 19.77 lakh shares were traded in the counter as against an average daily volume of 3.38 lakh shares in the past one quarter.
The stock hit a low of Rs 7.75 so far during the day, which is also a 52-week low for the counter. The stock hit a high of Rs 9.56 so far during the day. The stock had hit a 52-week high of Rs 20.85 on 9 January 2013.
The stock had underperformed the market over the past one month till 1 August 2013, sliding 26.68% compared with the Sensex's 1.33% fall. The scrip had also underperformed the market in past one quarter, slumping 42.87% as against Sensex's 0.96% fall.
The small-cap company has an equity capital of Rs 60.66 crore. Face value per share is Re 1.
HCC's turnover rose 18% to Rs 1149.60 crore in Q1 June 2013 over Q1 June 2012.
The company's operating profit surged 191.17% to Rs 201.20 crore in Q1 June 2013 as against Rs 69.10 crore in Q1 June 2012.
The company reported an earnings before interest taxes depreciation and amortization (EBITDA) margin of 17.6% in Q1 June 2013.
As on 30 June 2013, HCC's order backlog was at Rs 13969 crore, including L1 contracts worth Rs 2265 crore.
The company said that construction at Lavasa was in full swing with 5000 workers on ground. With around 1.9 lakh tourists visits during the quarter, Lavasa emerged as a major tourist destination.
Commenting on the performance, Praveen Sood, Group Chief FInancial Officer, HCC, said, "HCC's performance amidst a challenging environment for the infrastructure sector affirms the management's commitment to shore up our operations. Continued cost rationalisation, improved execution and arbitration awards, has yielded better results. We will continue to pursue these measures aimed at further strengthening of performance despite the challenging economic environment."
HCC's businesses span the sectors of engineering & construction, real estate, infrastructure, urban development & management.
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