Housing Development and Infrastructure fell 6.68% to Rs 108.20 at 15:12 IST on BSE after consolidated net profit fell 71.91% to Rs 31.89 crore on 37.25% decline in total income to Rs 162.68 crore in Q4 March 2015 over Q4 March 2014.
The result was announced during trading hours today, 15 May 2015.
Meanwhile, the BSE Sensex was up 126.27 points, or 0.46%, to 27,332.33.
On BSE, so far 94.77 lakh shares were traded in the counter, compared with an average volume of 25.42 lakh shares in the past one quarter.
The stock hit a high of Rs 117.90 and a low of Rs 99.80 so far during the day. The stock hit a 52-week high of Rs 143 on 13 April 2015. The stock hit a 52-week low of Rs 58.90 on 17 December 2014.
The stock had underperformed the market over the past one month till 14 May 2015, falling 16.34% compared with 6.33% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 5.22% as against Sensex's 6.49% fall.
The mid-cap company has an equity capital of Rs 419 crore. Face value per share is Rs 10.
Housing Development and Infrastructure (HDIL) said it follows project completion method and accordingly results on quarter-to-quarter basis may not be comparable. During the quarter ended March 2014, the company had sold its investment in an associate company and sale consideration was part of other income amounting to Rs 44.45 crore. Further during the quarter ending March 2014 there was reversal of income tax provision of Rs 35.63 crore. Accordingly financial results are not comparable with quarter ended March 2015.
On a consolidated basis, HDIL's net profit rose 23.14% to Rs 218.66 crore on 13.58% decline in total income to Rs 1083.12 crore in the year ended March 2015 over the year ended March 2014.
Meanwhile in a separate announcement during trading hours today, 15 May 2015, HDIL said that its board considered issuing security up to $350 million subject to approval of the shareholders at the forth coming annual general meeting.
HDIL is a real estate development company, with significant operations in the Mumbai Metropolitan Region.
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