TNS STOCKS: HDIL spurts as Q3 net profit rises more than 2-fold on income
MUMBAI, FEB 16: Housing Development and Infrastructure Ltd., a Mumbai-based real estate development company, spurted Monday as fiscal third quarter net profit rose more than two fold or 234.41% on higher income from operations.
Company's net profit rose to Rs 690.9 million in the three months ended Dec 31 compared to Rs 206.6 million in the corresponding period a year ago, HDIL said in a statement to the stock exchanges on Saturday.
Income from operation rose to Rs 3.47 billion in the three months ended Dec 31 compared to Rs 0.68 million in the same period a year ago.
Other income also rose to Rs 34.4 million in the third quarter compared to Rs 27.4 million in the same quarter a year ago.
At 9:30AM, HDIL spurted 6.4% to Rs 117.25 on the Mumbai stock exchange.
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