{"id":336428,"date":"2020-02-07T10:10:01","date_gmt":"2020-02-07T04:40:01","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=336428"},"modified":"2020-02-07T10:16:43","modified_gmt":"2020-02-07T04:46:43","slug":"hcc-q3-profit-at-rs-234-cr-announces-plan-to-reduce-debt-by-rs-2100-cr","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/hcc-q3-profit-at-rs-234-cr-announces-plan-to-reduce-debt-by-rs-2100-cr\/","title":{"rendered":"HCC Q3 profit at Rs 234 cr; announces plan to reduce debt by Rs 2,100 cr"},"content":{"rendered":"<p>Hindustan Construction Company (HCC) on Thursday reported a net profit of Rs 234 crore for the October-December quarter of 2019-20 against Rs 9.91 crore in the year-ago period mainly on the back of &#8216;write-back&#8217; of Rs 331 crore of provisions. <\/p>\n<p>Total turnover in the quarter under review was at Rs 1,075 crore against Rs 1,102 crore in the year-ago period. <\/p>\n<p>The company also announced a plan to reduce its debt by Rs 2,100 crore. <\/p>\n<p>&#8220;The company reported a net profit of Rs 234 crore in Q3 FY20 mainly on write-back of Rs 331 crore of provisions taken in Q4 FY19. On January 10, 2020, the company&#8217;s lenders initiated a carve-out of about Rs 2,100 crore of debt to a third-party-controlled SPV along with certain arbitration awards and claims in a move that will significantly de-leverage the company and address its asset-liability mismatch,&#8221; the company said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hindustan Construction Company (HCC) on Thursday reported a net profit of Rs 234 crore for the October-December quarter of 2019-20 against Rs 9.91 crore in the year-ago period mainly on the back of &#8216;write-back&#8217; of Rs 331 crore of provisions. Total turnover in the quarter under review was at Rs 1,075 crore against Rs 1,102 crore in the year-ago period. The company also announced a plan to reduce its debt by Rs 2,100 crore. &#8220;The company reported a net profit of Rs 234 crore in Q3 FY20 mainly on write-back of Rs 331 crore of provisions taken in Q4 FY19. [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,168],"tags":[],"class_list":["post-336428","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/336428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=336428"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/336428\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=336428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=336428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=336428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}