DLF Q1 net profit dips 18% on higher interest costs

Country's largest real estate developer DLF today reported 18.30% decline in its consolidated net profit for the quarter ended June 30 at Rs 292.79 crore, mainly due to higher interest outgo.

The company had posted a net profit of Rs 358.36 crore in the corresponding period last year, DLF said in a filing to the BSE.

The consolidated income from operations during the first quarter also decreased by 10.14% to Rs 2,197.71 crore from Rs 2,445.82 crore in the year-ago period, it added.

The company spent Rs 622.60 crore on finance costs in April-June period as against Rs 496.41 crore in the same period last year, up by 25.42%.

DLF had a net debt of Rs 22,725 crore as on March 31, 2012.

Shares of the company today closed 2% up at Rs 211.25 apiece on the BSE.