HUDCO slumps over 4% on poor show in Sept quarter

NEW DELHI: Shares of Housing and Urban Development Corporation (HUDCO) nosedived as much as 4.4 per cent on Friday as the public sector entity posted a 19 per cent on-year fall in consolidated net profit to Rs 370.40 crore in the July-September quarter.

The counter touched a low of Rs 42.85 on the National Stock Exchange, down from Rs 44.80 at previous close.

In the same period a year ago, the company had reported a net profit of Rs 457.25 crore.

According to a PTI report, the company’s total income declined Rs 1,745.62 crore in July-September from Rs 1,865 crores a year ago.