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Housing Development and Infrastructure (HDIL) has reported a 30 per cent drop in June quarter net profit to ₹40.82 crore. The company had reported a net profit of ₹58.34 crore for the year-ago period.
The consolidated income stood at ₹265.21 crore representing an dip of 2.7 per cent. The consolidated net debt for the June quarter stood at ₹2726.52 crore.
Sarang Wadhawan, VC and MD, HDIL, said: “During the first quarter, execution of ongoing projects has been the prime focus for us. Debt reduction continues to be on our agenda for the coming quarters and we strive towards achieving the same. We expect TDR sales will give impetus to our cash flow.”
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