DLF is under pressure on account of a 45% drop in the December quarter net. The company and its subsidiaries have received an additional tax notice of Rs 1,137 crore for the 2009-10 assessment year.
DLF reported 45% fall in consolidated net profit at Rs 258 crore in the third quarter of this fiscal on account of lower than expected sales. It had posted PAT of Rs 466 crore in the year-ago period. The company's net debt fell by Rs 169 crore during the third quarter of this fiscal to Rs 22,758 crore and it expects to raise about Rs 6,000 crore by the end of next fiscal from sale of non-core assets.
DLF has slipped 3% to Rs 224. The stock touched a low of Rs 219 in opening trades. Around 5,21,000 shares have been traded so far on the BSE.
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