DLF dips on disappointing Q2 earnings

DLF is trading lower by 2.4% at Rs 201 on the Bombay Stock Exchange after reporting 63% year-on-year (yoy) decline in its consolidated net profit at Rs 139 crore for the quarter ended September due to decline in sales.

Total income from operations of the country’s largest realty company has dropped 19% during the quarter to Rs 2,039 crore, compared to Rs 2,532 crore last year in the same period, DLF said in a statement.

The stock opened at Rs 204 and has seen a combined 59,000 shares changing hands on the counter in opening deals on both the exchanges.