DLF Q3 profit before tax rises 55% to Rs 368.6 cr; total income falls 36%

Realty major DLF on Thursday reported 55 per cent year-on-year growth in profit before tax in the third quarter of FY20 at Rs 368.6 crore, compared to Rs 237.5 crore posted in the corresponding period last year.

Its net profit stood at Rs 335.15 crore in the year-ago period. The total income fell 36 per cent to Rs 1,533.34 crore in the third quarter of 2019-20 from Rs 2,405.89 crore in the corresponding period previous year, DLF said.

Despite the fall in income, the company's net profit increased due to an exceptional gain of Rs 231 crore during the December quarter. DLF declared an interim dividend of Rs 1.20 per share.

“The company received good response for its ready to occupy premium project — The Ultima in Gurugram. It clocked sales of about Rs 800 crore from the Phase-II launch; the project now is 90 per cent sold out. The firm continues to remain focussed on monetisation of its completed inventory,” DLF said.