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Hind Construction net at Rs 26.54 cr

Our Bureau

MUMBAI, Aug. 15

HINDUSTAN Construction Co Ltd (HCC) has posted a 24 per cent increase in net profit at Rs 26.54 crore for the year ended June 30, 2001 as against Rs 21.39 crore in the previous year.

The company's board of directors has recommended a dividend of Rs 2.50 per share for the year against Rs 2 in the previous year.

HCC would have posted a higher profit, but for the carry-forward of the previous year's taxes of Rs 8.07 crore.

Net sales for the year stood at Rs 565.85 crore (Rs 530.77 crore). Total expenditure was Rs 341.07 crore (Rs 384.59 crore).

Interest stood at Rs 29.67 crore (Rs 39.14 crore), while depreciation was Rs 24 crore (Rs 21.64 crore).

According to a company statement, during the year, it has secured seven new projects including Bandra-Worli Sealink Project, BMC: III Water supply Project and Ghatkopar High Level Sewage Tunnel in Mumbai, Delhi Metro Rail Corridor, Gujarat State Highways Project, Phase I, Package 2, Naini Bridge Allahabad and WB-2 Roads Package part of the Golden Quadrilateral Highway scheme, West Bengal.

On Tuesday, the HCC scrip closed at Rs 33.55 on the Bombay Stock Exchange against the previous close of Rs 32.50, a gain of Rs 1.05.