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DLF profit down 46% in December quarter

DLF said sales would continue to be muted for some quarters

Karan Choudhury  |  New Delhi 

Demonetisation played spoilsport for realty major DLF, reporting a 46 per cent fall in profit to Rs 98 crore and a 30 per cent dip in net sales to Rs 2,058 crore in the quarter ended December, compared with the year-ago period.   DLF said sales would continue to be muted for some quarters. "Weak sales and collections will lead to operating shortfall of Rs 750-1,000 crore per quarter. This will result in a temporary spike in net debt levels, for which financing is already in place," went its presentation.   Terming currency demonetisation as good in the long ...

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DLF profit down 46% in December quarter

DLF said sales would continue to be muted for some quarters

DLF said sales would continue to be muted for some quarters Demonetisation played spoilsport for realty major DLF, reporting a 46 per cent fall in profit to Rs 98 crore and a 30 per cent dip in net sales to Rs 2,058 crore in the quarter ended December, compared with the year-ago period.   DLF said sales would continue to be muted for some quarters. "Weak sales and collections will lead to operating shortfall of Rs 750-1,000 crore per quarter. This will result in a temporary spike in net debt levels, for which financing is already in place," went its presentation.   Terming currency demonetisation as good in the long ... image
Business Standard
177 22

DLF profit down 46% in December quarter

DLF said sales would continue to be muted for some quarters

Demonetisation played spoilsport for realty major DLF, reporting a 46 per cent fall in profit to Rs 98 crore and a 30 per cent dip in net sales to Rs 2,058 crore in the quarter ended December, compared with the year-ago period.   DLF said sales would continue to be muted for some quarters. "Weak sales and collections will lead to operating shortfall of Rs 750-1,000 crore per quarter. This will result in a temporary spike in net debt levels, for which financing is already in place," went its presentation.   Terming currency demonetisation as good in the long ...

image
Business Standard
177 22