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  1. HDIL slips over 10 per cent on reporting 30% fall in Q1 consolidated net profit

HDIL slips over 10 per cent on reporting 30% fall in Q1 consolidated net profit

Housing Development and Infrastructure (HDIL) shares slumped over 10 per cent on Monday after the company reported 29.55 per cent fall in its net profit at Rs 41.10 crore for the quarter ended June 30, 2016 as compared to Rs 58.34 crore for the same quarter in the previous year.

By: | Updated: September 12, 2016 4:12 PM
HDIL slips over 10 per cent on reporting 30% fall in Q1 consolidated net profit Housing Development and Infrastructure (HDIL) shares slumped over 10 per cent on Monday after the company reported 29.55 per cent fall in its net profit at Rs 41.10 crore for the quarter ended June 30, 2016 as compared to Rs 58.34 crore for the same quarter in the previous year. (Express Photo)

Housing Development and Infrastructure (HDIL) shares slumped over 10 per cent on Monday after the company reported 29.55 per cent fall in its net profit at Rs 41.10 crore for the quarter ended June 30, 2016 as compared to Rs 58.34 crore for the same quarter in the previous year. On consolidated basis, the company posted 30.01 per cent fall in its net profit after taxes, minority interest and share of profit of associates at Rs 40.89 crore for the quarter ended June 30, 2016 as against Rs 58.42 crore for the same quarter in the previous year. Total Income of the company stood at Rs 265.21 crore, registering a decline by 2.70 per cent for the quarter under review from Rs 272.58 crore for the same quarter ended June 30, 2015.

The scrip ended 10.85 per cent down at Rs 90. It has opened at Rs 94.70 and touched a high and low of Rs 96.05 and Rs 89.50, respectively.

The BSE group ‘A’ stock of face value Rs 10 touched a 52-week-high of Rs 108.75 on Jul 12, 2016 and 52 -week-low of Rs 55.60 on Feb 12, 2016.

The promoters holding in the company stood at 34.25 per cent, while Institutions and Non-Institutions held 49.54 per cent and 16.2 per cent respectively.

The company’s release said, “sales from Residential Project Metropolis has contributed for the current quarter. Around 2, 75,000 sq. ft Transfer of Development Rights (TDR)is generated during the quarter. TDR price has been in the range Rs. 4000 per sq. ft.”

Its consolidated net debt for the quarter ended June 2016 remained at Rs 2726.52 crore.

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