HCC order book up 29 percent
January 22nd, 2010 - 5:39 pm ICT by IANS ( Leave a comment )Mumbai, Jan 22 (IANS) Engineering and construction firm HCC Friday said its orders for the quarter ended Dec 31 rose 29 percent to Rs.15,703 crore compared to the year-ago period, even as its turnover increased 7.9 percent to Rs.875.8 crore.
In a regulatory filing, the company said its net profit during the third quarter stood at Rs.14.7 crore, and was not comparable to the Rs.23.2 crore it earned in the previous corresponding period, owing to a tax provision of Rs.9 crore made during that period.
HCC, which built the Mumbai sea-link project, secured projects worth Rs.1,862 crore in the third quarter of which around 50 percent were from the hydel power sector and was awaiting award of projects worth Rs.5,500 crore, where it is the lowest bidder.
“HCC expects a healthy growth in order book, which is likely to cross Rs.21,000 crore by March 2010,” said a company statement.
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Tags: construction firm, crore, hcc, hydel power, net profit, power sector, sea link, tax provision, turnover
