HCC sinks 16% from day’s high on Rs 406 crore consolidated net loss in Q1

Hindustan Construction Company’s shares tumbled 8 per cent to hit an intra-day low of Rs 6.2 on the BSE on Friday after the company on Thursday reported consolidated net loss of Rs 406.26 crore for June 2020 quarter (Q1FY21). It had logged a net profit of Rs 99.74 crore in the year-ago period.

The shares had jumped leaped 10 per cent in the morning deals today to hit a high of Rs 7.4 apiece, translating into an intra-day fall of 16.2 per cent. A combined 24.92 million shares had changed hands on the counter on the NSE and BSE till the time of writing of this report.

For Q1FY21, the engineering and construction firm’s total income stood at Rs 1,689.82 crore, compared with Rs 2,815.21 crore in the year-ago quarter.