Housing Development and Infrastructure (HDIL), the real estate development company in India, witnessed a sharp fall in share price on Monday after the company disclosed a steep drop in consolidated net profit for the quarter ended June 2016. During the quarter, the profit of the company declined 30.01% to Rs 408.90 million from Rs 584.20 million in the same quarter previous year.

Revenues for the quarter declined marginally 2.26% to Rs 2,607.10 million, compared with Rs 2,667.50 million for the prior year period.

Shares of Housing Development and Infrastructure  are trading at Rs 94.20, down Rs 6.75, or 6.69%  at the Bombay Stock Exchange (BSE) on Monday at 10:31 a.m.

The scrip has touched an intra-day high of Rs 96.05 and low of Rs 93.00. The total volume of shares traded at the BSE is 918,740.

Total volume of shares traded on the bourses today was lower by 17.70% to 7,113,400 compared with 22-day average volume of 8,643,415.