HCC Q4 net profit soars 94%; declares dividend @ 80%

HCC Q4 net profit soars 94%; declares dividend @ 80% Despite a difficult economic year, HCC, the engineering construction and infrastructure development company, has reported net profit of Rs 51.4 crore for the quarter ended March, 31,2009 compared with Rs 26.41 crore in the corresponding previous quarter.

The company has registered a growth of 94.47 per cent in its fourth quarter's net profit.

However, company's net sales during the quarter dipped to Rs 1,049.86 crore from Rs 1,071.73 crore last year, down by 2.04 per cent.

For the year ending March 31,2009, the company posted a rise of 15.24 per cent at Rs 125.34 crore against Rs 108.76 crore last year. In addition, the company's net sales also grew to Rs 3,518.31 crore from Rs 3,104.34 crore, up 13.34 per cent.

The company stated in a release that it has received orders worth Rs 9000 crore for FY09. The firm's present order book stands at Rs 16000 crore.

Apart from the announcement of results, the board has declared an 80 per cent dividend at the rate of 80 paise a share, on face value of Re one.

On the Bombay Stock Exchange, the company's shares ended the day at Rs 57.55, marginally down compared to its previous close.

The scrip has made 52-week-high and low of Rs 151 and Rs 29 respectively.