The Hindu Business Line : DLF net profit at Rs 2,177 cr in Q4

New Delhi, April 30 DLF Ltd posted a marginal 1.5 per cent rise in its consolidated net profit for the fourth quarter ended March 2008 at Rs 2,177 crore, compared to the third quarter. However, its consolidated revenue at Rs 4,372.36 crore, represented a strong 20 per cent increase on a quarter-on-quarter basis.

The company did not give comparative figures for the corresponding quarter of previous year saying during fiscal 2006-07 it was not required to prepare the consolidated quarterly results as it was an unlisted company. DLF Ltd public offer hit the market in June 2007.

The earnings before interest, depreciation, tax and amortisation at Rs 2,849 crore, was up 12 per cent from Rs 2554 crore in the previous quarter.

According to sources, the net profit growth was marginal on account of change in sales segmentation, with Q4 seeing more sales in retail, mid income housing and projects in metros and Tier I cities .

The company recorded consolidated revenues of Rs 14,494 crore for the year ended March 31, 2008, an increase of 258 per cent over FY07.

The net profit was at Rs 7,856 crore, up by 306 per cent from Rs 1,934 crore.

Commenting on the company’s performance, Mr Rajiv Singh, Vice-Chairman, DLF, said, “For an economy growing at the rate of 8-8.5 per cent, the demand for premium real estate continues to be buoyant. The annual results reflect this reality.”

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