HCC turnover higher

	Financial Daily from THE HINDU group of publications Tuesday, October 30, 2001

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HCC turnover higher

MUMBAI: Hindustan Construction Company Ltd has announced a net profit of Rs 23.79 crore for the quarter ended September 30, 2001 (Rs 0.12 crore).

Extraordinary income of Rs 19.98 crore in the form of capital gains on sale of development rights of land in Pune drove up net profit; net sales, which showed a 45 per cent increase to Rs 123.32 crore from Rs 84.92 crore, also contributed to the bottomli ne.

Income from operations, excluding the company's share of turnover in integrated joint ventures, showed a 59 per cent increase, to Rs 99 crore from Rs 61.96 crore.

Total expenditure amounted to Rs 77.3 crore (Rs 48.08 crore).

Interest stood at Rs 8.02 crore (Rs 8.15 crore) and depreciation amounted to Rs 6.69 crore (Rs 5.64 crore).

Profit before tax and extraordinary income amounted to Rs 7.35 crore (Rs 0.13 crore).

A news release said the company has submitted pre-qualification bids for 12 projects valued at over Rs 1,750 crore. -- Our Bureau