HCC registered a 4% year-on-year increase in the company’s standalone net profit at Rs 84.97 crore for the full year ended March 31, 2016. However, net profit for the three months ended March 31, 2016 fell by 7% year-on-year to Rs 19.1 crore.
For the full year, the company’s net sales fell by nearly 3% to Rs 4,190.9 crore, while for the quarter the net sales increased by 1.78% to Rs 1,196 crore, from the corresponding period.
However, in a statement HCC said that overall operational efficiency and reduction in fixed costs and award of claims have resulted in improved EBITDA margins. EBITDA margins for FY16 stood at 19.98% up from 18.74%, while for the fourth quarter ended March 31, 2016, the EBITDA margins increased to 19.8% against 17.2%.
The order book grew by 25.4% at R18,123 crore, excluding L1 contracts worth R3,701 crore. Ajit Gulabchand, chairman and managing director said, “HCC has significantly improved its order book, which will help raise our turnover to bring down the interest cost in coming years. Our efforts on bringing operational efficiency and cost management have yielded results with high project EBIT margins over last eight quarters”.