DLF quarterly profit falls 63 percent on home sales
MUMBAI (Reuters) - DLF Ltd (DLF.NS), 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 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.
(Reporting by Aditi Shah; Editing by Aradhana Aravindan)
- Tweet this
- Share this
- Digg this
- TCS net profit rises 51.5 percent, beats estimates
- UPDATE 5-Nearly 300 missing after South Korean ferry capsizes - coastguard
- Infosys says staff exodus a worry after Q4 profits beat estimates
- Ocean floor search for missing Malaysia plane cut short again
- Pro-Russians take control of Ukrainian troop carriers
Tata Consultancy Services Ltd , India's largest IT services exporter, posted a 51.5 percent rise in quarterly net profit, beating expectations, as it won more contracts in Europe and some emerging markets. Full Article | Full Coverage