HDIL gains after reporting marginal rise in net profit in Q1 June 2015

Housing Development and Infrastructure rose 1.25% to Rs 89.40 at 9:32 IST on BSE after consolidated net profit rose 2.88% to Rs 59.24 crore on 6.39% rise in total income to Rs 272.51 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced after market hours yesterday, 10 August 2015.

Meanwhile, the S&P BSE Sensex was down 48.01 points or 0.17% at 28,053.71.

On BSE, so far 2.35 lakh shares were traded in the counter as against average daily volume of 26.80 lakh shares in the past two weeks.

The stock hit a high of Rs 90.60 and a low of Rs 89.05 so far during the day. The stock had hit a 52-week high of Rs 143 on 13 April 2015. The stock had hit a 52-week low of Rs 58.90 on 17 December 2014.

Meanwhile, the company said in a separate announcement that it has redeemed non-convertible debentures aggregating to Rs 196.20 crore.

HDIL is a real estate development company, with significant operations in the Mumbai Metropolitan Region.

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