HDIL shares up nearly 7 pc on robust Dec quarter earnings

Shares of realty firm HDIL surged nearly 7 per cent as the company's consolidated net profit zoomed to Rs 65.29 crore for the quarter ended December 31, 2014.
After surging 8.43 per cent to Rs 119.50 -- its 52-week high in intra-day session, the scrip finally ended at Rs 117.80, up 6.90 per cent from its previous close on the BSE.
At the NSE, it settled 6.58 per cent higher at Rs 117.35.
HDIL's consolidated net profit zoomed to Rs 65.29 crore for the quarter ended December 31, 2014 from Rs 5.10 crore in the comparable period.
The company had on Saturday reported a four-fold a rise in total sales during the period under review to Rs 359.50 crore from Rs 89.63 crore in the corresponding period.

During the quarter, the company reduced its debt by 136.17 crore and its net debt now stands at Rs 3,142.49 crore with debt to equity ratio of 0.31.