Hindustan Construction Company (HCC) today saw its share price fall and was down by over 8% at market close, after announcing a 4% decline in net profit (standalone) in its fourth quarter. Net profits fell to Rs. 20.9 crore, down from Rs. 21.81 crore the same quarter last year. Total income for the company increased to Rs. 1,428.8 crore, from Rs. 1,250.08 crore in the same quarter last year.
The management sounded an optimistic note despite the weak results, saying on future performance that "the improved order book will certainly help raise turnover and arbitration award receivables will reduce interest cost in the coming quarters." MD Ajit Gulabchand said that the government impetus on infrastructure has also strengthened the company's outlook.