Realty giant DLF’s net profit down by 79 per cent | india | Hindustan Times
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Realty giant DLF’s net profit down by 79 per cent

The country’s largest real estate developer DLF limited on Thursday reported a net profit of Rs 396 crore during the April-June quarter this year, down 79 per cent from Rs 1,864 crore in the corresponding period the previous year.

india Updated: Jul 31, 2009 01:16 IST
HT Correspondent


The country’s largest real estate developer DLF limited on Thursday reported a net profit of Rs 396 crore during the April-June quarter this year, down 79 per cent from Rs 1,864 crore in the corresponding period the previous year.

The company’s revenues during the quarter stood at Rs 1,746 crore, down 55 per cent from Rs 3,846 crore in the previous year. The DLF Board also declared a dividend of Rs 2 per share for 2008-09. The company’s share price had closed at Rs 402 per share on Thursday.

Compared with the previous three months (January to March), however, DLF has clocked 149 per cent rise in net profits — an indication that construction activities are showing signs of growth.

Rajiv Singh, vice chairman, DLF Limited said: “After a few difficult quarters last fiscal, we have seen a fairly good first quarter of the current fiscal. Going forward, we expect the scenario to improve further.”