DLF Q2 net down 63 pct on slowing home sales

MUMBAI Mon Nov 12, 2012 7:18pm IST

Stocks

   

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)

  • Most Popular
  • Most Shared

DEFENCE

REUTERS SHOWCASE

Canonisation

Canonisation

Pope declares sainthood of two Indians, four Italians.  Full Article 

Stake Sale Strike

Stake Sale Strike

Coal India trade unions call off strike in victory for Modi.  Full Article 

Markets Weekahead

Markets Weekahead

Ride the bull with a finger on the ejector button.  Full Article 

Arms Purchase

Arms Purchase

India approves $2.6 bln mounted gun purchase - official.  Full Article 

Interview with Bulgari CEO

Interview: Bulgari CEO

Bulgari CEO: we shouldn’t have left India so we’re back  Full Article 

Formula One

Formula One

Hamilton takes second F1 title in style.  Full Article 

Available For Remake

Available For Remake

Bollywood finally wants to pay the price for remakes  Full Article 

Davis Cup

Davis Cup

Vintage Federer seals first Davis Cup for Switzerland.  Full Article 

Movie Review

Movie Review

"Happy Ending" is old wine in an older bottle  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage