New Delhi, Nov 9 (PTI) Hindustan Construction Company (HCC) on Thursday reported a 97.95 per cent decline in consolidated net profit to Rs 6.33 crore for the September quarter.
The company had posted a consolidated net profit of Rs 310.29 crore in the year-ago period, HCC said in a filing to the BSE.
However, the consolidated income of the company during the July-September period declined to Rs 1,870.70 crore, from Rs 2,273.39 crore a year ago, the filing said.
HCC's consolidated expenses declined to Rs 1,862.64 crore as against Rs 2,195.46 crore a year ago.
The company is focusing on growth through new order acquisitions, HCC said in a statement.
It has bid for projects worth Rs 6,000 crore, which are under evaluation, the statement said, adding that another Rs 8,000 crore worth of bids shall be submitted in the ongoing quarter.
It said a bid pipeline of Rs 15,000 crore has been identified for future growth.
According to the statement, during the quarter, the order backlog increased Rs 900 crore through awards of variations in existing jobs.
The company's order book stood at Rs 12,344 crore as of September 30, 2023, it added. PTI BKS TRB TRB