Realty major DLF BSE 0.40 % disappointed the street with lower than expected quarterly results. The company reported a net profit of Rs 100 crore for the quarter ended September. It had reported a net profit of Rs 138 crore in the corresponding quarter last fiscal.
DLF reported exceptional gains of Rs 79.7 crore in second quarter. Thus, adjusted net profit stands at Rs 20 crore vs Rs 138 crore, down 86 per cent post exceptional gains.
Net sales for the period fell to Rs 1,956 crore against Rs 2,040 crore in year-ago period.
EBITDA was down 20 per cent at Rs 594 crore against Rs 746 crore. Margins also slipped to 30.4 per cent vs 36.6 per cent.
According to analysts, higher employee costs and other expenses dent margins. Interest costs have risen 17 per cent over last year, 3 per cent over last quarter.
The company is expected to cut net debt to Rs 17,500 crore by year end. It has sold non core assets worth Rs 655 crore in second quarter.
At 09:40 a.m.; the stock was at Rs 149, down 0.13 per cent, on the BSE. It touched a high of Rs 150.20 and a low of Rs 145 in early trade.
DLF reported exceptional gains of Rs 79.7 crore in second quarter. Thus, adjusted net profit stands at Rs 20 crore vs Rs 138 crore, down 86 per cent post exceptional gains.
Net sales for the period fell to Rs 1,956 crore against Rs 2,040 crore in year-ago period.
EBITDA was down 20 per cent at Rs 594 crore against Rs 746 crore. Margins also slipped to 30.4 per cent vs 36.6 per cent.
According to analysts, higher employee costs and other expenses dent margins. Interest costs have risen 17 per cent over last year, 3 per cent over last quarter.
The company is expected to cut net debt to Rs 17,500 crore by year end. It has sold non core assets worth Rs 655 crore in second quarter.
At 09:40 a.m.; the stock was at Rs 149, down 0.13 per cent, on the BSE. It touched a high of Rs 150.20 and a low of Rs 145 in early trade.
No comments:
Post a Comment