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Business News/ Companies / Hindustan Construction posts fall in Q3 profit
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Hindustan Construction posts fall in Q3 profit

Net profit fell to `19.38 crore for the quarter ended 31 December from `27.14 crore a year ago

Net sales fell 5.8% to `1,058.04 crore from `1,123.60 crore a year ago.Premium
Net sales fell 5.8% to `1,058.04 crore from `1,123.60 crore a year ago.

Mumbai: Hindustan Construction Co. Ltd on Thursday reported a 28.6% fall in net profit for the fiscal third quarter, hit by a one-time provision to cover a forseeable loss.

Net profit fell to 19.38 crore for the quarter ended 31 December from 27.14 crore a year ago.

The company reported a provision of 45.50 crore for the forseeable loss, according to a company statement on the BSE.

Net sales fell 5.8% to 1,058.04 crore from 1,123.60 crore a year ago.

According to five analysts polled by Bloomberg, the company had been expected to post a net profit of 68 lakh and net sales of 1,070.70 crore.

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Published: 29 Jan 2016, 01:36 AM IST
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