May 30, 2012 / 2:37 PM / 5 years ago

India's DLF Q4 net slumps 39 pct on high finance costs

MUMBAI, May 30 (Reuters) - DLF, India's leading real estate developer, reported a 39 percent fall in net profit, weighed down by high interest costs and slowing house sales.

DLF reported consolidated net profit of 2.12 billion rupees ($37.98 million) for the quarter ended March compared with 3.44 billion rupees a year ago.

Revenue was down 2 percent at 26.2 billion rupees.

Analysts on average expected the company to post a net profit of 2.76 billion rupees on revenues of 23.5 billion rupees, Thomson Reuters I/B/E/S showed.

Shares in DLF closed 2.52 percent lower at 183.45 rupees before the results in a weak Mumbai market.

$1 = 55.8150 Indian rupees Reporting by Aditi Shah in MUMBAI; editing by Malini Menon

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