Hindustan Construction Company (HCC) has reported a higher than expected net loss of Rs 54 crore for the fourth quarter of FY12. The company had reported a profit of Rs 23 crore in the corresponding quarter of last fiscal.
Total income of the company fell by 5.95% to Rs 1,156 crore y-o-y due to execution bottlenecks, slowdown in ordering activity, high interest cost environment and payment delays. Analysts had expected total income at Rs 1,091 crore. The company’s EBITDA margins during the same period stood at 7.6%.
HCC’s experience in the road and transport sector spans over construction of some of the best infrastructure for mass rapid transport systems, railways, roads, bridges and highways. It has built nearly 300 roads and rail bridges and is building 84 km of the historical Mughal Road at a height of 3,494 meters above sea level through the Pir Panjal Mountains in Himalayas.
