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This is an archive article published on August 12, 2011

HDIL Q1 net profit dips 12%

The company had posted a net profit of Rs 216.36 crore in the corresponding period last year.

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Housing Development & Infrastructure Ltd (HDIL) reported a 12.46 per cent decline in its consolidated net profit to Rs 189.40 crore for the quarter ended June 30.

The company had posted a net profit of Rs 216.36 crore in the corresponding period last year,HDIL said in a filing to the Bombay Stock Exchange (BSE).

The consolidated total revenue during the first quarter,however,increased by 12.39 per cent to Rs 511.81 crore from Rs 455.37 crore in the year-ago period,it added.

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The company’s board also approved change in designation of its Managing Director Sarang Wadhawan to Vice-Chairman and Managing Director.

The shares of the company were trading 1.03 per cent higher at Rs 117.80 apiece in afternoon trade on the BSE.

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