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HDIL net down 31%

Co posted a net profit of Rs 107.35 cr for Q3 of FY13

Raghavendra Kamath Mumbai
HDIL, the Mumbai-based realty developer, posted a drop of 31% in its net profit for the quarter ending December 31, 2012 due to higher finance costs and tax expenses.

The company posted a net profit of Rs 107.35 crore for the third quarter of current financial year as compared Rs 155.79 crore it posted in the Q3 of FY 2012.

The company's finance costs went up 29% at Rs 181.81 crore during the Q3 of FY 2013 as compared to Rs 141.20 crore during the corresponding quarter of FY 2012.

HDIL's income from operations saw a flat growth at Rs 423.17 crore in the Q3 of FY 2013 as compared to Rs 425.65 core during the corresponding quarter.

The company said its standalone debt was reduced by Rs 202.5 crore and stands at Rs. 3466.94 crore as on December 31, 2012.

HDIL stock was trading at Rs 68.55 at 1.45 pm, nearly 0.44% down from previous close. 

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First Published: Feb 14 2013 | 2:00 PM IST

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