HDIL posts a net loss of 69.6% in September quarter
1 min read . Updated: 14 Nov 2013, 04:09 PM ISTTotal revenue increased 67.7% to `433.47 crore
Mumbai: Housing Development Infrastructure Ltd (HDIL) posted a 69.6% drop in net profit at ₹ 42.7 crore for the July-September quarter as construction and other expenses increased.
Total revenue increased 67.7% to ₹ 433.47 crore but profits were held back by a 176% jump in construction costs to ₹ 97.7 crore and a rise in overall expenditure to ₹ 186.6 crore.
HDIL’s net debt as of 30 June was ₹ 3,630 crore after the developer reduced its debt by ₹ 203 crore in the June quarter.
Shares of HDIL rose 2.41% to ₹ 42.5 on BSE at 2.00pm, while the exchange’s benchmark Sensex index gained 1.15% to 20,425.79 points.
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