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HCC rallies on strong Q3 results

Hindustan Construction Company (HCC) has rallied 14% to Rs 33.15 on BSE after reporting a five-fold jump in standalone net profit at Rs 27.1 crore for the quarter ended December 31, 2014 (Q3), on the back of a higher turnover.

The infrastructure major had posted a net profit of Rs 5.4 crore for the corresponding quarter a year ago.

The turnover in Q3 registered 29% growth at Rs 1,124 crore compared to Rs 870 crore in the previous year, HCC said in a statement.

The company has its current work order at Rs 14,307 crore excluding L1 contracts worth Rs 1,176 crore, it added.

The stock opened at Rs 31.20 and hit a high of Rs 33.35 on BSE.  The trading volumes on the counter more than doubled with a combined 8.52 million shares changed hands till 0945 hours on BSE and NSE.
 

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