DLF net up 10.5 percent at 2.85 billion rupees, misses estimates

MUMBAI Fri Feb 15, 2013 12:13am IST

A man cycles past the construction site of a residential apartment building by property developer DLF Ltd. in Gurgaon January 27, 2010. REUTERS/Adnan Abidi/Files

A man cycles past the construction site of a residential apartment building by property developer DLF Ltd. in Gurgaon January 27, 2010.

Credit: Reuters/Adnan Abidi/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - DLF Ltd(DLF.NS), India's largest listed real estate developer, reported a 10.5 percent rise in quarterly net profit, helped by a one-time gain from the sale of non-core assets during the quarter ended Dec 31.

The New Delhi-based developer said consolidated net profit for its fiscal third quarter was 2.85 billion rupees compared with 2.58 billion rupees a year earlier.

In November, DLF concluded the sale of a 17-acre plot of land in Mumbai to private developer Lodha for 27 billion rupees, making a one-time, pre-tax gain of 8.4 billion rupees on the sale which boosted its overall profits.

Sales were down nearly 36 percent at 13.1 billion rupees over the same period.

Analysts expected the company to post net profit of 4.25 billion rupees, according to Thomson Reuters I/B/E/S.

(Reporting by Aditi Shah; Editing by Elaine Hardcastle)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Literary Giant Dies

Literary Giant Dies

Nobel winner Garcia Marquez, master of magical realism, dies at 87.  Full Article 

Election 2014

Election 2014

India holds biggest day of voting with BJP gaining strength  Full Article | Full Coverage 

Insider Trading

Insider Trading

Ex-Goldman director Gupta starts prison term on June 17.  Full Article 

Market Eye

Market Eye

Sensex jumps 351 points, snaps 3-day losing streak  Full Article 

Expansion Plans

Expansion Plans

Reliance Industries, HPCL Mittal plan refinery expansions.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

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