DLF Q2 net profit drops 63%

Business

oi-Sneha

By Sneha B K

Published: Tuesday, November 13, 2012, 10:20 [IST]

DLF, the country's largest realty company, reported a net loss of 63% to Rs139 crore as against Rs 372 crore a year earlier ago.

The company's revenue was at Rs 2,157 crore, down by 16% against Rs 2,577 crore from the corresponding period of last year. The company in a press release made a statement that " "The Worst is Behind Us" .

Sales were down nearly 20% at Rs 2,040 crore over the same period. Shares in DLF ended lower by 2.68% at Rs 205.5 on Monday.

Earning per share (EPS) for the quarter stood at Rs 0.81.

Commenting on the results Ashok Tyagi, Group CFO said "The financial results for this quarter represent that the company is poised to get back on full growth mode. The Company is now well positioned and positive to leverage its leadership with planned launches in excess of 9 msf during the second half of the fiscal year. We truly believe that the worst is behind us!!

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