DLF rallies on better than expected results

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Shares in India's largest real estate player DLF have rallied more than 3 per cent today, following better than expected Q1 results.

The stock was last trading at Rs 143, up 3 per cent on the National Stock Exchange. DLF reported a 38 per cent fall in its consolidated net profit at Rs 181.19 crore for the quarter ended June 30 on the back of higher expenses. However, its top line grew by four per cent.

DLF is India's largest real estate player. Over the last few years the share price of the company has fallen dramatically owing to worries over its huge debt. However, the company has laid an emphasis on managing its debt and selling core assets in order to prune down its debt.


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