DLF settles with over 5% loss; M-Cap down Rs 1,894 crore

MUMBAI: Extending early losses, shares of DLF today tanked over 5 per cent after the realty major reported consolidated net loss of Rs 4.19 crore for the fourth quarter of the 2012-13 fiscal.

After slumping over 6 per cent to Rs 193.20 in intra-day trade in an overall weak stock market, the scrip finally ended at Rs 194.85, down 5.41 per cent from its previous close on the BSE.

At the NSE, it closed at Rs 196.60, down 4.45 per cent. Following the weakness in the stock, the market value of DLF fell by Rs 1,894 crore to Rs 33,099 crore.

DLF had late last evening posted consolidated net loss of Rs 4.19 crore in the fourth quarter of the 2012-13 fiscal, due to poor sales and losses of subsidiaries. It had clocked a net profit of Rs 211.70 crore in the January-March quarter of 2011-12 fiscal.

The company's performance took a beating as its total sales were down during the quarter under review. The total income from operations in Q4 declined by 15 per cent to Rs 2,225.55 crore, compared to Rs 2,616.78 crore in the fourth quarter of 2011-12 fiscal.

Besides, the company suffered a total loss of Rs 77.35 crore from its hotel business and its subsidiary firm DLF Pramerica Life Insurance company.

Overall, the BSE 30-stock index, Sensex, tumbled by over 455 points to close below key 20,000-mark at 19,760.30, wiping off Rs 1.1 lakh crore in investor wealth, on panic selling in realty, banks and PSUs.

Investors hopes of rate cut crashed after RBI comments yesterday and the GDP growth slumping to decade-low of 5 per cent for the fiscal ended March 31.