Realty firm HDIL announced its Q1 FY17 results Saturday, 10th September 2016, in which it posted a decline of 30 per cent in its net profit. The net profit of the company fell from Rs 58.91 crores for the quarter ended 30th June 2016 to Rs 41.10 crores for the quarter under analysis.
A sharp decline in the revenue of the company has also been noticed. For the June 2016 quarter the revenue was recorded as Rs 260.54 crores against the revenue of Rs 266.68 crores for the corresponding quarter of the previous year. The other income was reported as Rs 4.73 crores.
Income from operations declined marginally to Rs 260.71 crores in the first quarter of the financial year from Rs 266.75 crores in the corresponding quarter of the previous year.
Total income of HDIL stood at Rs 265.21 crores for the quarter ended June against Rs 272.58 crores in the year-ago period.
The profit before tax for the quarter ended 30th June 2016 was Rs 45.40 crores as compared to Rs 69.64 crores for the same quarter of the previous year.
On the back of the declining quarter results HDIL share price opened around 6 per cent below the previous closing and is currently trading at Rs 94.95 apiece on NSE. The total traded volume according to NSE is 18,53,250 amounting to a total of Rs 1,749.65 lakhs.
The 52 week high of the share is Rs 108.70 made on 12th July 2016 and the 52 week low is Rs 55.65 made on 12th February 2016.
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