DLF net down 19% at Rs 345 cr

The country's largest realty firm DLF today reported 19.2 per cent fall in consolidated net profit to Rs 344.5 crore for the last quarter of 2010-11. The company had posted a net profit of Rs 426.4 crore in the corresponding quarter last year, it said in a statement.

Consolidated sales during the fourth quarter increased 34.5 per cent to Rs 2,683.09 crore, from Rs 1,994.4 crore in the year-ago period. For the entire 2010-11, the consolidated net profit went down 4.7 per cent to Rs 1,639.6 crore, from Rs 1,719.84 crore. The consolidated sales in last year rose 28.8 per cent to Rs 9,560.6 crore, from Rs 7,422.87 crore.

 

The company board has recommended a dividend of 100 per cent, which is Rs 2 per equity share, for 2010-11, DLF said. "Though this consistent high rate of inflation has had a bearing on our performance, we have progressed well on all our key business parameters and continue our focus on enhancing execution and maximizing cash flows," Group CFO Ashok Tyagi said.