HDIL Q3 net drops 32% to Rs 185 cr

Housing Development & Infrastructure (HDIL) today recorded 31.6 per cent drop in its net profit for the third quarter ended December 2008 to Rs 184.8 crore against Rs 270.2 crore in the corresponding quarter of last fiscal.

The total revenues of the infrastructure company fell to Rs 334.7 crore for the reporting quarter from Rs 515.2 crore.

Net sales increased to Rs 3,168.3 crore from Rs 2,632.3 crore in the same quarter of the previous year.

HDIL was trading at Rs 89.45 at 1333 hrs, down 1.38 per cent on the BSE.