HCC's Net Loss At Rs 234 Cr for Q2FY20
New Delhi: Hindustan Construction Company’s consolidated net loss stood at Rs 233.71 crore for the second quarter of the current fiscal as compared to Rs net profit of Rs 473.70 crore in the same quarter of the previous financial year.
The total income of the company dropped 6 percent to Rs 2,302.09 crore for the second quarter of the ongoing fiscal as compared to Rs 2,445.53 crore in the corresponding quarter of the previous fiscal, the company said in a regulatory filing.
"The company reported a net loss of Rs 165 crore mainly on account of deferred tax asset write-off in Q2 FY20 as against a net loss of Rs 1,525 crore in the same quarter last year on account of write-offs related to Lavasa," HCC said.
It is the lowest bidder in NHPC's Lower Subansiri Hydro Electric Power Project of 2,000 MW.