DLF Q2 net down 63 pct on slowing home sales
MUMBAI Nov 12 (Reuters) - DLF Ltd, India's biggest property developer, reported a 63 percent fall in net profit for the July-September quarter, hit by slowing home sales in Asia's third-largest economy.
The New Delhi-based developer said consolidated net profit for the fiscal second quarter was 1.39 billion rupees($25.39 million) compared with 3.72 billion rupees a year earlier.
Sales were down nearly 20 percent at 20.4 billion rupees over the same period.
Analysts expected the company to post net profit of 2.69 billion rupees, according to Thomson Reuters I/B/E/S.
Shares in DLF ended down 2.68 percent at 205.5 rupees on Monday before the earnings in a flat Mumbai market. ($1 = 54.7550 Indian rupees) (Reporting by Aditi Shah; Editing by Aradhana Aravindan)
- Tweet this
- Share this
- Digg this
- Facebook Q1 revenue grows 72 percent on rising mobile ads
- UPDATE 3-Boy and girl on Korean ferry tied life jackets together before they drowned
- Boy and girl on Korean ferry tied life jackets together before they drowned
- Kashmiris wary as Modi challenges for power
- Preview - Liverpool seek to land knockout blow on Chelsea
The opposition Bharatiya Janata Party was set to make gains in Tamil Nadu and West Bengal that began voting on Thursday in the sixth phase of a mammoth general election that could help it build a stable majority in parliament. Read | Full Coverage: Election 2014
India may cede top rice exporter spot under Southeast Asian price onslaught. Full Article