DLF shares down on weak margins

Reuters Market Eye - Shares in DLF Ltd drop as much as 4.1 percent after its January-March earnings fell short of some analysts' estimates.

The real estate developer on Thursday reported a profit in the fourth quarter, helped by a gain from the sale of its Amanresorts luxury hotel chain.

The company's revenue was in line with estimates, but margins disappointed once again, Motilal Oswal Securities said in a note.

Weak demand and lack of fresh launch have resulted in deterioration in core operating cash flow as well, it added.

Shares in DLF were down 2.7 percent at 209.30 rupees at 10:25 a.m.

(Reporting by Indulal PM)