NEW DELHI: Realty firm HDIL on Tuesday reported more than threefold jump in consolidated net profit at Rs 24.70 crore on higher sales. Its net profit stood at Rs 7.54 crore in the year-ago period, the Mumbai-based company said in a regulatory filing.
Total income rose to Rs 171.35 crore during April-June, 2018-19 from Rs 89.65 crore in the year-ago period.
The company’s finance cost came down to Rs 73 crore from Rs 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 Rs 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.
Source: Press Trust of India