DLF has shed over 5% at Rs 216 after reporting 13% year-on-year decline in its consolidated net profit for the first quarter ended June 2011 at Rs 358 crore on higher input cost and finance charges.
The company had posted a net profit of Rs 411 crore in the corresponding period last year, India’s largest real estate company said in a filing to the stock exchanges. The consolidated sales during the first quarter, however, rose by 21% to Rs 2,446 crore from Rs 2,029 crore in the year-ago period.
Total expenditure increased by 25% to Rs 1,505 crore in Q1FY12 primarily on land, development rights and constructed properties, while finance charges rose 28% to Rs 496 on y-o-y.
Around a combined 200,000 shares have changed hands on the counter in opening deals.
