DLF's Q2 falls flat, margins shrink

DSIJ Intelligence / 10 Dec 2016

DLF's Q2 falls flat, margins shrink

India’s largest real estate developer DLF has posted its second quarter earnings post markets hours on Friday, December 9, 2016. Company has reported a flat set of numbers with profitability coming in flat at Rs 206.1 crore for the quarter ending September 30 as against Rs 206.18 crore in the corresponding period of last fiscal.

India’s largest real estate developer DLF has posted its second quarter earnings post markets hours on Friday, December 9, 2016. Company has reported a flat set of numbers with profitability coming in flat at Rs 206.1 crore for the quarter ending September 30 as against Rs 206.18 crore in the corresponding period of last fiscal.

Total income from operations has increased to Rs 2,070.67 crore in the July-September period from Rs 2,040.84 crore in the corresponding period of the previous year, representing a negligible growth of close to 1.5 per cent, which was above street estimates.

Operational performance i.e EBITDA has witnessed a fall of 1.4 per cent to Rs 1,020.5 crore compared to Rs 1,035.3 crore on a year-on-year basis, resulting in a margin contraction of 140 basis points to 49.3 per cent during the second quarter.

Company’s finance cost has come in at Rs 735 crore at the end of Q2 as against Rs 740 crore in the year ago period.

Ahead of the results shares of DLF closed with gains of 2.3 per cent at Rs 115.70 on NSE.

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