DLF net down 18% on high finance costs

DLF , India's largest real estate developer, reported an 18 percent fall in net profit for the June quarter, weighed down by high interest costs and slowing home sales.

DLF reported consolidated net profit of 2.93 billion rupees f or its fiscal first quarter compared with 3.58 billion rupees a year earlier.

Analysts on average expected the company to post a net profit of 2.86 billion rupees on revenues of 24.7 billion rupees, Thomson Reuters I/B/E/S showed.