Reuters logo
India's DLF net profit almost halves
February 14, 2014 / 2:36 PM / 4 years ago

India's DLF net profit almost halves

NEW DELHI, Feb 14 (Reuters) - 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 earlier. ($1 = 62.3650 Indian rupees) (Reporting by Devidutta Tripathy; Editing by Aradhana Aravindan)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below