The Quarter 4 results of DLF – Shares Slip over 5% after Results Were Announced
On Tuesday, in early morning trade, DLF slipped over 5 per cent. On Monday, the company had announced its March quarter results, as a result, today the shares of DLF slipped over 5 per cent.
As per the company’s statement, the consolidated net profit went up 66 per cent to Rs 247.73 crore in January-March despite lower sales. In the year-ago period, the corresponding figure was Rs 149.14 crore.
On the other side, the total income of DLF fell to Rs 1,845.92 crore during quarter 4, from Rs 2,511.37 crore a year earlier.
In the fiscal year 2017, DLF achieved net sales of Rs 1,000 crore and completed projects of 8.6 million sq ft.
The company has also stated that the markets are expected to have bottomed out and a revival is on the cards in the medium term. It went on saying that the company has some plans to continue to focus on the premium and luxury segment to garner healthy margins.
On BSE, the stock was trading at Rs 188.30, down 2.89 per cent at 11:05 am.