Shares of realty firm DLF on Thursday fell by nearly 3 per cent after the company reported 28 per cent decline in consolidated net profit during second quarter of the current fiscal.
Reacting to the results that were announced post market hours yesterday, shares of DLF today made a weak opening and as the trade progressed it further fell by 2.81 per cent to Rs 145 on the BSE.
At the NSE, the stock lost 2.68 per cent to Rs 145.10.
DLF on Wednesday reported 28 per cent fall in its consolidated net profit at Rs 100.05 crore (Rs 1 billion) during second quarter of the current fiscal due to lower sales and higher interest and tax outgo.
The company had posted a net profit of Rs 138.51 crore (Rs 1.38 billion) in the year-ago period, DLF had said in a statement.
Income from operations declined by four per cent to Rs 1,956.09 crore (Rs 19.56 billion) during July-September quarter of 2013-14 fiscal compared to Rs 2,039.54 crore (Rs 20.39 billion) in the corresponding period of last fiscal.
Total expenses grew to Rs 1,527.22 crore (Rs 15.27 billion) during the second quarter of the current fiscal from Rs 1,476.89 crore (Rs 14.76 billion) in the year-ago period.