HCC shares fall 8% on poor Q4 results
1 min read . Updated: 05 May 2017, 04:32 PM ISTHCC shares tanked 7.97% to end at ₹42.75 on the BSE
New Delhi: Shares of Hindustan Construction Company (HCC) on Friday tumbled almost 8% after it reported a 4% decline in standalone net profit for the quarter to March 2017. The stock tanked 7.97% to end at ₹ 42.75 on the BSE.
During the day, it dived 8.5% to ₹ 42.50. At NSE, it eased 7.85% to close at ₹ 42.80. The company’s market valuation shrank by ₹ 373.24 crore to ₹ 4,320.76 crore.
On the volume front, 30.80 lakh shares of the company were traded on the BSE and over 1 crore changed hands at the NSE during the day. HCC on Thursday posted a 4% drop in standalone net profit at ₹ 20.9 crore for the March quarter.
The figure was ₹ 21.81 crore in the year-ago period, HCC had said in a filing to the BSE. However, total income rose to ₹ 1,428.86 crore, from ₹ 1,250.08 crore in the same quarter of the previous fiscal.
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