Web Sify
Follow us on
Mail
Print

DLF falls after Oct-Dec results fail to impress

Source : REUTERS
Last Updated: Fri, Feb 15, 2013 05:34 hrs
An investor watches the share index at a local share and stock market in the northern Indian city of Chandigarh

Shares in DLF Ltd fell as much as 3.6 percent a day after India's largest listed real estate developer reported a net profit of 2.85 billion rupees, that missed market expectations.

DLF's Oct-Dec earnings include 8.4 billion rupees from the sale of Jawala Real Estate, the entity owning the NTC Mumbai land. Adjusting for this, DLF reported a loss of 5.5 billion rupees.

"Lower pre-sales and cost escalations led to a sharp fall in EBITDA margin from 36.6 percent to 6.6 percent quarter-on-quarter," Jefferies said in a note.


More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance