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HCC Turnover at Rs.1,001 crore in Q1 FY 18-19

Posted On: 2018-08-09 08:14:33

HCC Turnover at Rs.1,001 crore in Q1 FY 18-19HCC reported turnover of Rs.1,001 crore in Q1 of FY18-19, as against Rs.991 crore in Q1 FY17-18. The company's order book stood at Rs.18,714 crore as of June 30, 2018. The company registered a loss of Rs.19.7 crore in Q1 FY18-19 against profit of Rs.14.5 crore in Q1 FY17-18. Gross debt of the company has reduced substantially to Rs.3,719 crore as of June 30, 201 8, from Rs.4,207 crore as on June 30, 2017.

Financial highlights:

Un-audited standalone results for Q1 FY18-19 vs. Q1 FY17-18

- Turnover of Rs.1,001 crore vs. Rs.991 crore
- Finance costs fell by 12% y-o-y, in line with the reduction in Gross Debt
- Order book at Rs.18,714 crore, excluding L1 bids worth Rs.1,213 crore

HCC has received Rs. 1,624 crore till date under the CCEA's initiative to release 75% of arbitral awards against bank guarantees.

Mr. Arjun Dhawan, Director & Group Chief Executive Officer, said, "We have successfully managed to lower our debt and reduce finance costs, despite the banking crisis that has gripped the country. This has however dampened our ability to grow and allow for a high-performance execution of our order backlog. While our commitments on the cost side of the balance sheet have accelerated due to recent legislative and regulatory requirements, our substantial receivables from Government Agencies continue to lag, which have created a working capital strain. HCC is taking the necessary measures to address this by not only strengthening its balance sheet, but also participating in the robust infrastructure spend in India. These measures will, among other things, include the monetisation of non-core assets and accelerating the receipt of our dues from clients."

Shares of HINDUSTAN CONSTRUCTION CO.LTD. was last trading in BSE at Rs.11.49 as compared to the previous close of Rs. 11.54. The total number of shares traded during the day was 2632938 in over 1675 trades.

The stock hit an intraday high of Rs. 11.71 and intraday low of 11.15. The net turnover during the day was Rs. 30333582.

Source: Equity Bulls

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