HCC shares tank nearly 7% post Q4 earnings

Shares of Hindustan Construction Company (HCC) today slumped nearly 7 per cent after the company reported a four per cent decline in standalone net profit for the quarter to March 2017.

The stock tumbled 6.78 per cent to Rs 43.30 on the BSE.

On the NSE, it tanked 6.78 per cent at Rs 43.30.

HCC yesterday posted a four per cent decline in standalone net profit at Rs 20.9 crore for the March quarter.

The company had reported a net profit of Rs 21.81 crore in the year-ago period, HCC said in a filing to the BSE.

However, total income increased to Rs 1,428.86 crore, from Rs 1,250.08 crore in the same quarter of the previous fiscal.