DLF drops 5% in morning trade on poor Q4 nos

Shares of realty major DLF took a hit in morning trade on the bourses today, shedding 5% on the NSE after the company reported a drop in consolidated net profit for the quarter ended March 31, 2011.

On the NSE, the stock plunged by 5.02% to hit a one-year low of Rs 208.10.

On BSE, the scrip fell by 4.97% to touch a 52-week low of Rs 208.05.

According to analysts, the company's quarterly profit missed market estimates, resulting in the stock coming under selling pressure.

DLF reported a 19.19% fall in consolidated net profit to Rs 344.54 crore for the last quarter of 2010-11.

The company had registered a net profit of Rs 426.38 crore in the corresponding quarter last year.

Meanwhile, the broader market bellwether Sensex was trading at 17,945.49, down by 66.48 points, at 1018 hours.