Shares of a company in the business of oil & gas exploration and production surged nearly 5.8 percent on BSE to Rs. 39.9 on Wednesday, after reporting a net profit of Rs. 64 crores, a significant recovery from a loss of Rs. 2 crores in Q1 FY25 and a loss of Rs. 3 crores in Q2 FY24.
With a market cap of Rs. 6,681 crores, at 12:33 p.m., the shares of Hindustan Construction Company Limited were trading in the green at Rs. 39.77, up by 5.5 percent, compared to its previous closing price of Rs. 37.7.
What’s the news:
The fluctuations in the share prices were observed after Hindustan Construction Company (HCC) Limited announced the financial results for Q2 FY25, through the latest filings with the stock exchanges on Tuesday post-market hours.
For Q2 FY25, Hindustan Construction Company reported consolidated revenue from operations of Rs. 1,407 crores, reflecting a decline of around 22.5 percent QoQ from Rs. 1,816 crores in Q1 FY25, as well as a decrease of about 23.2 percent YoY from Rs. 1,833 crores in Q2 FY24.
The company’s net profit for Q2 FY25 grew to a profit of Rs. 64 crores, marking a substantial turnaround from a loss of Rs. 2 crores in Q1 FY25 and a year-on-year improvement from a loss of Rs. 3 crores in Q2 FY24.
Recent Orders:
On 14th October, HCC received a Letter of Acceptance (LoA) from Maharashtra State Road Development Corporation Ltd. for the construction of a Two-Lane Bridge across Agardanda Creek, with approaches connecting Tokekhar Tq. Murud and Turumbadi Tq. Mhasala in Raigad District, along the Revas-Reddi Coastal Highway (MSH-04) in the State of Maharashtra.
This project was awarded on an EPC basis for a total contract price of Rs. 1,031.6 crores.
Shareholding Pattern:
As per the latest shareholding pattern, the Promoters hold an 18.59 percent stake in the company, Foreign Institutional Investors (FII) hold a 9.73 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 65.69 percent and 5.97 percent stake in Hindustan Construction Company, respectively.
Stock Performance:
The stock has delivered positive returns of nearly 59.3 percent in one year, as well as around 5.3 percent returns in the last six months. So far in 2024, the shares of Hindustan Construction Company have given positive returns of about 43.2 percent.
About the company:
Hindustan Construction Company Limited is engaged in the engineering and construction of large infrastructure projects.
The company has core competencies in the design, engineering, and execution of complex projects of national importance in the transportation, power, marine, water, and industrial sectors.
HCC has significantly contributed to India’s infrastructure, accounting for 26 percent of the country’s hydropower capacity, over 60 percent of its nuclear power generation capacity, 4,036 lane kilometres of roads and expressways, 395 bridges, and 360 kilometres of complex tunnelling.
Written by Shivani Singh
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