DLF rose 1.83% to Rs 122.35 at 10:44 IST on BSE after consolidated net profit rose 20.2% to Rs 131 crore on 7% decline in revenue to Rs 1997 crore in Q2 September 2015 over Q2 September 2014.
The result was announced after market hours yesterday, 3 November 2015.
Meanwhile, the S&P BSE Sensex was up 122.20 points or 0.46% at 26,712.79.
On BSE, so far 4.74 lakh shares were traded in the counter as against average daily volume of 16.05 lakh shares in the past one quarter.
The stock hit a high of Rs 124.85 and a low of Rs 121.80 so far during the day. The stock had hit a 52-week high of Rs 179 on 4 February 2015. The stock had hit a record low of Rs 93 on 24 August 2015.
The stock had underperformed the market over the past one month till 3 November 2015, sliding 10.24% compared with Sensex's 1.41% rise. The scrip had, however, outperformed the market in past one quarter, gaining 3.62% as against Sensex's 5.66% fall.
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The large-cap company has equity capital of Rs 356.61 crore. Face value per share is Rs 2.
DLF's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 17% to Rs 1071 crore in Q2 September 2015 over Q2 September 2014.
Projects in DLF 5 continues to garner reasonable interest and clock sales inflow in an otherwise subdued market conditions, DLF said. Various other micro markets in other geographies remain soft and revival of these markets is expected in the next 18-24 months, the company said. The impact of the recent rate cuts by the Reserve Bank of India is still awaited, which can help in providing a fillip to demand in these markets, DLF said in a statement.
DLF said that the real estate industry continues to face liquidity issues, resulting in half finished projects. Low consumer interest, coupled with infrastructural constraints, delayed approval and high cost of capital afflict the industry, DLF said.
DLF is one of the biggest real estate development companies in India. DLF is primarily engaged in the business of development and sale of residential properties and the development and leasing of commercial and retail properties.
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