NEWSALERT: HDIL posts 66% decline in Q1 net

Housing Development & Infrastructure Ltd (HDIL), a real estate development company with significant operations in Mumbai Metropolitan city, has posted 66 per cent decline in net profit at Rs 107.47 crore in the first quarter ended June 30, 2009 as compared to Rs 317.94 crore in the corresponding quarter of the previous fiscal.

During the period under consideration, total income of the company slumped 47 per cent from Rs 601.13 crore to Rs 318.62 crore.

Details awaited