DLF Shares Trade In Green After Company Posts 30% Growth In Net Profit In Q2 Results

DLF shares grabbed everyone's attention on Tuesday as the share price DLF Ltd was 1.11% at Rs 560 per share at 10:19 am IST today. The spike in the company's shares was seen a day after the firm reported a 30.6% growth in its net profit at Rs 622.8 crore in its Q2 results announced on Monday.

For the quarter ending September 30, 2023, the Gurugram-based property developer delivered a strong performance across all parameters and this has probably pleased investors taking the stock's share price higher in today's intraday trading.

The net profit of DLF Ltd stood at Rs 622.8 crore, compared to Rs 477 crore in the year-ago period. During this period, DLF's profit jumped 21.4% to Rs 1,149.78 crore,946.61 crore in September 2022. The firm's revenue for the period under review increased 3.5% to Rs 1,347.7 crore.

The company's total income stood at Rs 1,476.4 crore, up from Rs 1,360.3 crore in September 2022. For the initial six months of the financial year ended September 2023, the income surged 4.2% to Rs 2,998 crore.

In the last one year, DLF shares have gained almost 45%, while the stock's year-to-date (YTD) performance is up 47%.