DLF dips nearly 3% on weak Q2 earnings

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Shares of real estate major DLF fell nearly 3 per cent in early trade on Bombay Stock Exchange (BSE) following the disappointing set second quarter numbers ended September 2013 (Q2FY14).

The company has reported 28 per cent year on year (yoy) decline in consolidated net profit at Rs 100 crore for the second quarter ended September 2013 (Q2), due to poor sales, high interest cost and higher effective tax rate during the quarter.

Weighed down by numbers, shares of the company declined as much as 2.81 per cent to trade at Rs 145.00 a piece on the BSE.

In a similar fashion, shares of the company slipped 1.01 per cent to Rs 147.60 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 21,042.96, up 8.99 points or 0.04 per cent at 9:43 hours.

Read more about: dlf
Story first published: Thursday, October 31, 2013, 12:56 [IST]
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