HDIL Reports 30% Drop In First Quarter Net Profit
HDIL Q1 NP sees a downfall.
Hindustan Development and Infrastructure Ltd. reported a 30 percent decline in net profit to Rs 40.82 crores for the April-June quarter compared to Rs 58.36 crores in the same quarter last year, the company said in a notification to stock exchanges.
The company’s revenue fell to Rs 256.48 crore from Rs 265.03 crore a year ago.
Earnings before interest, tax, depreciation and amortization shrank 17 percent to Rs 157.19 crore from Rs 190.44 crore in year ago quarter. EBITDA margins dropped to 60.29 percent from 71.11 percent in the same period last year.
Total finance cost shrank marginally to Rs 114.6 crore from Rs 125.09 crore in the first quarter of last year. Total finance costs includes project specific finance cost and other finance cost.