DLF net profit declines 49% to Rs 227.8 cr in Q2, revenue falls 6%

Real estate major DLF reported a 49 per cent drop in its net profit for the July-September quarter. The Delhi-based firm posted Rs 227.8 crore net profit — down from Rs 443.4 crore in the corresponding quarter last year.

Disruptions following the pandemic impacted its top line too. The group’s consolidated revenue from operations declined 6 per cent year-on-year (YoY) to Rs 1,609.8 crore, from Rs 1,715.5 crore.

The steep drop in its profit can be attributed to marginal reduction in costs of land, constructed properties and development rights, and higher outgo against exceptional items. Its performance, however, reflects better