HDIL tumbles after weak Q2 outcome

Housing Development and Infrastructure fell 4.81% to Rs 64.35 at 12:05 IST on BSE after consolidated net profit fell 6.6% to Rs 57.79 crore on 20.39% decline in total income to Rs 242.67 crore in Q2 September 2015 over Q2 September 2014.

The result was announced on Saturday, 7 November 2015.

Meanwhile, the BSE Sensex was down 345.18 points, or 1.31%, to 25,920.06.

On BSE, so far 7.27 lakh shares were traded in the counter, compared with an average volume of 22.25 lakh shares in the past one quarter.

The stock hit a high of Rs 65.85 and a low of Rs 63.75 so far during the day. The stock hit a 52-week high of Rs 143 on 13 April 2015. The stock hit a 52-week low of Rs 54.25 on 4 September 2015.

The stock had underperformed the market over the past one month till 6 November 2015, falling 9.44% compared with 2.48% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 24.30% as against Sensex's 7.18% decline.

The small-cap company has an equity capital of Rs 419 crore. Face value per share is Rs 10.

Housing Development and Infrastructure (HDIL) said it follows 'Project Completion Method' and accordingly results on quarter-to-quarter basis may not be comparable.

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

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