HDIL shares tank nearly 11% on dip in June qtr profit

Shares of realty firm Housing Development and Infrastructure Ltd (HDIL) today ended nearly 11 per cent lower after the company reported 30 per cent decline in net profit for the quarter ended June 30.
After plummeting 11.34 per cent to Rs 89.50 in intra-day trade, shares of the company finally ended at Rs 90, down 10.85 per cent on BSE.
At NSE, shares of the company dived 10.71 per cent to end at Rs 90.
The company's market valuation declined by Rs 457.96 crore to Rs 3,771 crore.
In terms of volume, 33.60 lakh shares of the company were traded on BSE and over two crore shares changed hands on NSE during the day.

HDIL on Saturday reported 30 per cent decline in net profit at Rs 40.89 crore for the quarter ended June 30.

It had posted a net profit of Rs 58.42 crore in the year-ago period, Mumbai-based developer had said in a regulatory filing.
Income from operations fell marginally to Rs 260.71 crore in the first quarter of this fiscal from Rs 266.75 crore in the corresponding period of the previous year.
Total income stood at Rs 265.21 crore for the quarter ended June against Rs 272.58 crore in the year-ago period.