HCC posts Rs 54-cr loss in Q4

Mumbai-based Hindustan Construction Company has posted a net loss of Rs 54.20 crore for the quarter ended Mach 31 as against profit of Rs 22.60 crore for the same period last year. Turnover was four per cent down at Rs 1,156.2 crore (Rs 1,210 crore). HCC said that the Corporate Debt Restructuring Empowered Group in its meeting held on March 29, admitted the company's proposal for restructuring the debt and the process for approval was under way. The company's subsidiary — Lavasa Corporation — has resumed construction post-environment clearance from the Environment Ministry in November last year. Lavasa Corporation registered a turnover of Rs 75.3 crore and a net loss of Rs 138 crore for FY12. On Friday, the company scrip closed 5.62 per cent lower at Rs 20.15 on the BSE.