DLF stock slips as Q2 net profit falls to Rs 100 cr

MUMBAI: Shares of realty firm DLF today fell by nearly 3 per cent after the company reported 28 per cent decline in consolidated net profit during second quarter of the current fiscal.

Reacting to the results that were announced post market hours yesterday, shares of DLF today made a weak opening and as the trade progressed it further fell by 2.81 per cent to Rs 145 on the BSE.

At the NSE, the stock lost 2.68 per cent to Rs 145.10. DLF had yesterday reported 28 per cent fall in its consolidated net profit at Rs 100.05 crore during second quarter of the current fiscal due to lower sales and higher interest and tax outgo.

The company had posted a net profit of Rs 138.51 crore in the year-ago period, DLF had said in a statement.

Income from operations declined by four per cent to Rs 1,956.09 crore during July-September quarter of 2013-14 fiscal compared to Rs 2,039.54 crore in the corresponding period of last fiscal.

Total expenses grew to Rs 1,527.22 crore during the second quarter of the current fiscal from Rs 1,476.89 crore in the year-ago period.