HDIL Q1 net plunges 44% to Rs 105 cr

Total income drops 60% to Rs 210 cr

Housing Development and Infrastructure Ltd (HDIL) today reported 44% fall in consolidated net profit at Rs 105.38 crore for the quarter ended June 30 on lower sales.

The Mumbai-based developer had posted net profit of Rs 189.43 crore in the year-ago period.

HDIL's revenue declined by 61% to Rs 201.16 crore in the first quarter of this fiscal, from Rs 514.36 crore in the April-June period of 2011-12, the company said in a filing to the Bombay Stock Exchange.