DLF shares recover after initial hiccup, end nearly 2% up

Mumbai: Shares of realty major DLF on Thursday reversed early losses to close with nearly 2 percent gain in step with a strong show by markets, even as the company reported 28 percent decline in
dlf shares recover after initial hiccup end...
PTI 31 Oct 2013, 09:55 PM IST
Mumbai: Shares of realty major DLF on Thursday reversed early losses to close with nearly 2 percent gain in step with a strong show by markets, even as the company reported 28 percent decline in consolidated net profit during second quarter of the current fiscal.





After falling nearly 3 percent to Rs 145 in intra-day trade, shares of DLF recovered the lost ground and settled at Rs 151.70, up 1.68 percent from their previous close on the BSE.

At the NSE, the stock closed 1.91 percent higher at 151.95.

On the volume front, 15.78 lakh shares of the company changed hands on the BSE, while over one crore shares were traded on the NSE.

DLF had yesterday reported 28 percent fall in its consolidated net profit at Rs 100.05 crore during second quarter of the current fiscal due to lower sales and higher interest and tax outgo.

The company had posted a net profit of Rs 138.51 crore in the year-ago period, DLF had said in a statement.

Income from operations declined by four per cent to Rs 1,956.09 crore during July-September quarter of 2013-14 fiscal compared to Rs 2,'.54 crore in the corresponding period of last fiscal.

Total expenses grew to Rs 1,527.22 crore during the second quarter of the current fiscal from Rs 1,476.89 crore in the year-ago period.

In the broader market, the BSE benchmark Sensex settled 130.55 points or 0.62 per cent up at 21,164.52 -- its record closing high.
 
   
 

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