Hindustan Construction Company (HCC) delivered a weak performance in Q3 FY25, with a decline in standalone engineering and construction (E&C) turnover. The company’s revenue from the segment fell to ₹1,002 crore from ₹1,244 crore in the same period last year.

However, despite lower turnover, EBITDA margin improved to 14.7% from 12.3% in Q3 FY24, indicating better cost efficiencies.

The company reported a standalone net loss of ₹216 crore compared to a net profit of ₹68.5 crore in the previous year. This sharp decline was primarily due to tax-related adjustments after opting for the new tax regime, the company said.

Key impacts included the reversal of deferred tax assets worth ₹147.06 crore and a ₹154.16 crore write-off in unutilised MAT credit.

On a consolidated basis, revenue fell sharply to ₹1,006.8 crore from ₹1,474.5 crore a year ago, largely due to the divestment of its international subsidiary, Steiner AG.

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The consolidated bottom line also took a hit, with a net loss of ₹38.9 crore compared to a profit of ₹233 crore in Q3 FY24.

Despite the weak earnings, HCC continued to strengthen its order book. The company secured a ₹1,032 crore Letter of Award (LOA) for the Agardanda Creek Bridge project and emerged as the lowest bidder (L1) in projects worth ₹3,513 crore.

It also submitted bids amounting to ₹17,679 crore across multiple sectors, including metro rail, elevated roads, railway corridors, and dams.

HCC further bolstered its financial position by completing a ₹600 crore Qualified Institutional Placement (QIP) during the quarter.

With work progressing on tenders worth ₹36,000 crore, the company remains focused on consolidating its core operations in India after the exit from Steiner AG.

Ahead of its Q3 earnings announcement, HCC’s shares closed nearly flat on the BSE at ₹28.40, down 0.28%.