DLF reports large 92 percent drop in net profit at Rs 335 crore for December quarter

Realty major DLF Tuesday reported a 92 percent drop in its consolidated net profit at Rs 335.15 crore for the third quarter of this fiscal, as it had posted an exceptional profit in the year-ago period from stake sale in rental arm to GIC. Its net profit stood at Rs 4,091.27 crore in the year-ago period, the company said in a regulatory filing.

Total income, however, rose to Rs 2,405.89 crore during October-December quarter of 2018-19 fiscal year from Rs 1,855.21 crore in the corresponding period of the previous year. The profit fell due to exceptional gain of Rs 8,569.34 crore during the third quarter of 2017-18 fiscal, mainly on the back of promoters stake sale in rental arm DLF Cyber City Developers Ltd. Promoters had infused funds into DLF Ltd to reduce debt.

(With inputs from agencies.)