DLF Q2 net profit drops by 28% to Rs 100cr

DLF' income from operations declined by 4 percent at Rs 1,956.09 crore during July-September quarter of 2013-14 fiscal compared with Rs 2,039.54 crore in the corresponding period of last fiscal. India's largest realty firm DLF 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 said in a statement. Income from operations declined by 4 percent at Rs 1,956.09 crore during July-September quarter of 2013-14 fiscal compared with Rs 2,039.54 crore in the corresponding period of last fiscal. Total expense 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. Finance cost increased to Rs 609.08 crore from Rs 522.42 crore, while tax outgo also rose to Rs 85.47 crore from Rs 39.38 crore during the period under review. DLF has 320 million sq ft of planned projects with 52 million sq ft of area under construction. Source: MoneyControl

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