HDIL Q4 net up 70%, revenue rises by 13%

During the 2011-12 fiscal, HDIL's net profit fell marginally to Rs 809 cr

Realty firm Housing Development and Infrastructure Ltd (HDIL) today reported 70% rise in its consolidated net profit at Rs 315.51 crore for the quarter ended March 31, 2012.

HDIL had posted a net profit of Rs 185.21 crore in the year-ago period, the Mumbai-based company said in a filing to the BSE.

The revenue rose by 13% at Rs 625.12 crore in the fourth quarter of last fiscal as against Rs 552.65 crore in the corresponding period of the previous year.

The increase in Q4 net profit was on account of rise in other income to 24.67 crore from Rs 6.04 crore in the year-ago period. Also, the company got a tax refund of Rs 75.18 crore in the fourth quarter of last fiscal.

During the entire 2011-12 fiscal, HDIL's net profit fell marginally to Rs 809.83 crore from Rs 821.75 crore in the previous year. The revenue rose by 7.5% to Rs 2,006.41 crore from Rs 1,865.47 crore in the review period.