{"id":336455,"date":"2020-02-07T11:40:06","date_gmt":"2020-02-07T06:10:06","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=336455"},"modified":"2020-02-07T12:05:59","modified_gmt":"2020-02-07T06:35:59","slug":"hcc-q3-profit-at-rs-234-cr","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/hcc-q3-profit-at-rs-234-cr\/","title":{"rendered":"HCC Q3 profit at Rs 234 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 \u2018write-back\u2019 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. The company also announced a plan to reduce its debt by Rs 2,100 crore.<\/p>\n<p>\u201cThe 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\u2019s 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,\u201d 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 \u2018write-back\u2019 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. \u201cThe 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":[130],"tags":[],"class_list":["post-336455","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/336455","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=336455"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/336455\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=336455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=336455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=336455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}