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Shares of Housing Development and Infrastructure Ltd (HDIL) on Friday slumped over 7 per cent after the company reported a 72 per cent fall in consolidated net profit for the quarter ended March 2015.
Selling pressure witnessed soon after the results were announced and the stock plunged 13.92 per cent to Rs 99.80 in intra—day session on the BSE. It finally ended at Rs 107.70, down 7.12 per cent.
On the NSE, it tanked 7.28 per cent to end at Rs 107.55.
The company’s market value slipped Rs 345.33 crore to Rs 4,512.67 crore.
HDIL today reported 72 per cent fall in consolidated net profit at Rs 31.89 crore for the quarter ended March, 2015.
The city—based developer had posted a net profit of Rs 113.52 crore in the year—ago period.
Total income fell to Rs 162.68 crore during January—March quarter of 2014—15 fiscal against Rs 259.27 crore in the corresponding period of previous year, HDIL said in a filing to the BSE.
For the full 2014—15 fiscal, HDIL posted a net profit of Rs 218.66 crore against Rs 177.57 crore in previous year.
Total income rose to Rs 1,083.12 crore in the last fiscal as against Rs 953.64 crore in 2013—14 fiscal.
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