Mumbai: Housing Development & Infrastructure today said that its net profit for the fourth quarter ended 31 March, 2009 has declined by 91.25% to Rs61.92 crore, compared to the same period previous year.
The company had a net profit of Rs708.24 crore for the quarter ended March 2008, Housing Development & Infrastructure said in a filing to the BSE.
Total revenue of the company declined to Rs357.86 crore for the quarter under review, from Rs975.08 crore in the same quarter ended March 2008.
For the year ended 31 March, the company had a consolidated net profit of Rs786.53 crore, down 77.05% from Rs3,427.23 crore for the same period ended March 2008.
Besides, in another BSE filing, the company said its board has approved to raise $600 million (nearly Rs28,31.70 crore) from qualified institutional buyers by issuing shares on the preferential basis.
The board of the company has also decided to make preferential allotment of warrants to the promoter of the company.