New Delhi : India’s largest realty firm DLF reported 21 % rise in consolidated net profit at Rs 131.50 crore for the quarter ended September mainly on lower expenses. However, income from operations fell by 7 % to Rs 1,865.49 crore during July-September quarter of this fiscal from Rs 2,013.15 crore in the corresponding period of the previous year.
Total income decreased by 6 % to Rs 1,997.02 crore from Rs 2,135.59 crore in the review period. Commenting on the result, DLF CFO Ashok Tyagi told PTI: “One housing project has hit the revenue recognition threshold that has contributed to the increase in net profit”. The company’s net profit increased despite fall in sales as its total expenses declined to Rs 1,071.13 crore. Finance cost increased to Rs 705.58 crore during July- September quarter.
