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Infrastructure and construction player Hindustan Construction Company Ltd (HCC) has reported a 16 per cent decline in net profit for the quarter ended March 31, due to increase in finance cost. For the quarter, the company clocked a net profit of ₹20 crore. In the comparable quarter last year, it was ₹24 crore. The finance cost of the company during the quarter under review jumped to ₹167 crore from ₹150 crore in the previous year. The cost materials consumed also increased to ₹287 crore (₹273 crore). During the quarter, the net sales of the company also declined marginally to ₹1,175 crore from ₹1,184 crore. On the BSE, the stock closed at ₹31.75 crore, a decline of 2.61 per cent over the previous close.
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