DLF profit down 46% in December quarter

Demonetisation played spoilsport for realty major DLF, reporting a 46 per cent fall in profit to Rs 98 crore and a 30 per cent dip in net sales to Rs 2,058 crore in the quarter ended December, compared with the year-ago period.
 
DLF said sales would continue to be muted for some quarters. "Weak sales and collections will lead to operating shortfall of Rs 750-1,000 crore per quarter. This will result in a temporary spike in net debt levels, for which financing is already in place," went its presentation.
 
Terming currency demonetisation as good in the long term,