Hindustan Construction Company (HCC) on Friday reported a standalone net profit of Rs. 24.40 crore for the quarter ended March, 2014.
The construction major had reported a net loss of Rs. 50.26 crore in the corresponding quarter of 2012-13 and is under a corporate debt restructuring (CDR) scheme.
Net sales of the company rose 20.54 per cent to Rs. 1,184.83 crore during the quarter as against Rs. 982.92 crore in the corresponding quarter of the previous fiscal year (FY13), it said in a filing to the BSE.
HCC did not publish the consolidated results for the last quarter, though it chose to publish consolidated annual results.
During the quarter, total expenditure stood at Rs. 1,017.49 crore, amounting to 85.88 per cent of the net sales.
During the fourth quarter of 2012-13, HCC’s total expenditure was nearly 95 per cent of its net sales at Rs. 932.58 crore.
Besides, other income of the company rose by over 92 per cent to Rs. 45.78 crore in the last quarter, thereby helping HCC to report profits.
Finance costs of the company stood at Rs. 150.24 crore in the last quarter, up 11 per cent.
For the full year ended March 31, 2014, HCC registered a standalone net profit of Rs. 80.64 crore against a loss of Rs. 137.64 crore in FY13.