NEW DELHI Feb 14 DLF Ltd, India's top
real estate developer, reported quarterly net profit almost
halved, hurt by a one-off loss, although the profit was slightly
ahead of analysts' estimates.
Consolidated net profit fell 49 percent to 1.45 billion
rupees ($23 million) from 2.85 billion rupees a year earlier,
New Delhi-based DLF, founded by billionaire K.P. Singh, said in
a statement on Friday.
The latest quarter results included an exceptional charge of
4.11 billion rupees over a "foreseeable loss" as it settled a
dispute with a government agency over a project.
Five analysts on average had expected DLF to report a net
profit of 1.2 billion rupees, according to Thomson Reuters data.
Income from operations rose to 20.58 billion rupees for the
three months to December, from 13.10 billion rupees a year
($1 = 62.3650 Indian rupees)
(Reporting by Devidutta Tripathy; Editing by Aradhana