HDIL reported a decline in net profits in Q1 FY12

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HDIL reported a decline in net profits in Q1 FY12
Housing Development and Infrastructure (HDIL), a leading real estate builder/developer has reported standalone net profit of Rs 209.07 crore for the quarter ended June 30, 2011 as compared to net profit of Rs 234.33 crore for the quarter ended June 30, 2010, representing decrease of 10.78%.

HDIL's profit before tax increased from Rs 278.23 crore corresponding quarter previous year to Rs 282.93 crore this year, a marginal increase.

Company's net revenues increased by 11.36% from Rs 450.92 crore an year ago to Rs 502.18 crore this quarter.

Total income has increased from Rs 485.14 crore an year ago to Rs 539.44 crore for the quarter ended June 30, 2011 representing increase of 11.19%.

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