HDIL Q2 profit down 11% YoY at Rs 54 crore

MUMBAI: Mumbai-based builder Housing Development & Infrastructure Ltd (HDIL) has reported 10.6% on-year decline in consolidated net profit of Rs 54.41 crore for the quarter ended September. Total income for the quarter rose 86.5% to Rs 304.09 crore.

During the quarter, HDIL has allotted 2 crore equity shares at an issue price of Rs 70.50 per share to promoter of the company, the company said in a regulatory filing

Resolution Professional has submitted resolution plan in terms of Insolvency & Bankruptcy Code, 2016 as approved by committee of creditors (COC) to NCLT in the matter of its wholly-owned subsidiary, Guruashish Construction, the company added.