HCC to raise up to Rs 750 cr through QIP

Aug 01 2014, 01:04 IST
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SummaryHindustan Construction Company (HCC) will be raising up to R750 crore through a qualified institutional placement (QIP), said a company statement on Thursday.

Hindustan Construction Company (HCC) will be raising up to R750 crore through a qualified institutional placement (QIP), said a company statement on Thursday.

The company reported its fifth consecutive profitable quarter, with standalone net profit surging 41% to R27.1 crore year-on-year, primarily aided by higher operating margin and other income of R31.6 crore.

Standalone total income from operations was lower by 9% y-o-y to R1,043 crore compared to the three months of April to June, 2013, reflecting the still sluggish order inflow and project execution scenario.

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