Friday, July 24, 2009

Hindustan Construction net increases 22 percent

Operating profits of construction major Hindustan Construction Co (HCC) rose 22 percent to Rs.112 crore for the first quarter this fiscal, as compared to Rs.91 crore posted in the year-ago period.

The company's turnover increased 8 percent to a little over Rs.964 crore from Rs.895 crore in the corresponding period the previous fiscal, the company said in a regulatory statement Friday.

"HCC has shown robust growth despite the economic slowdown. We expect substantial increase in the order book given the increased government focus on infrastructure development in the coming months," said HCC chairman and managing director Ajit Gulabchand.

HCC's order book improved 50 percent to Rs.15,412 crore.

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