HDIL slips on posting Q4 losses
The Mumbai-based real estate developer reported net loss of Rs 280 crore in Q4FY13 against profit of Rs 316 crore in year ago quarter.
Housing Development and Infrastructure (HDIL) has slipped 9% to Rs 46.90 after reporting a consolidated net loss of Rs 280 crore for the quarter ended March 31, 2013 (Q4) due to exceptional loss of Rs 442 crore pertaining to Mumbai International Airport Slum Rehabilitation project.
The Mumbai-based real estate developer had a net profit of Rs 316 crore in the same period a year ago.
The company’s income from operations declined sharply 77% to Rs 140 crore from Rs 622 crore during the recently concluded quarter.
The stock opened at Rs 51.70 and hit a low of Rs 46.15 on BSE. A combined 39.03 million shares have changed hands on the counter till 1455 hours on BSE and NSE.
The Mumbai-based real estate developer had a net profit of Rs 316 crore in the same period a year ago.
The company’s income from operations declined sharply 77% to Rs 140 crore from Rs 622 crore during the recently concluded quarter.
The stock opened at Rs 51.70 and hit a low of Rs 46.15 on BSE. A combined 39.03 million shares have changed hands on the counter till 1455 hours on BSE and NSE.