DLF operating revenue falls 20% to Rs 1,716 crore in September quarter

Real estate major DLF reported a 19.8 per cent year-on-year drop in consolidated operating revenue for the July-September quarter, to Rs 1,716 crore. Expenses towards cost of land, plots, constructed properties and developmental rights dropped 28 per cent, to Rs 885 crore.
 
During the quarter, it utilised Rs 1,036 crore (of the Rs 2,250 crore it had got against exercise of warrants in June) towards repayment of bank loans. And, another Rs 149.5 crore for working capital requirement, including loans to subsidiaries. It had invested another Rs 288.4 crore, DLF informed the markets regulator.
 
Cost of finance came down by 16 per cent. Consolidated profit before tax remained flat at Rs 517.6 crore.

 

On a standalone basis, profit before tax jumped 464 per cent to Rs 1,967 crore, as it received Rs 1,939.4 crore as dividend from DLF Cyber City Developers, a JV group company.
 
Standalone total revenue also grew over last year, with the dividend received. After taking the latter
into account, it reported total income of Rs 2,556 crore for the quarter, 166 per cent higher than in the same period last year.