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Realty firm HDIL today reported more than threefold jump in consolidated net profit at ₹ 24.70 crore on higher sales.
Its net profit stood at ₹ 7.54 crore in the year-ago period, the Mumbai-based company said in a regulatory filing.
Total income rose to ₹ 171.35 crore during April-June, 2018-19 from ₹ 89.65 crore in the year-ago period.
The company’s finance cost came down to ₹ 73 crore from ₹ 92 crore earlier.
The board approved allotment of two crore equity shares to Sarang Wadhawan, promoter of the company, post conversion of warrants at about ₹ 70.50.
It also gave nod to preferential offer and issue of up to two crore in share warrants, convertible into equity shares to Wadhawan, subject to approval of the members.
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