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
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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