Largest real estate player DLF Ltd has reported 18.46 per cent drop in its consolidated net profit to Rs 292.79 crore for the first quarter ended June 30 compared with Rs 358.36 crore in the same period a year ago.

Analyst said the fall in net profit is largely attributed to tepid demand from both consumers and investors in both residential and commercial category.

Net sales for the period stood at Rs 2197.71 crore, registering a 10 per cent fall, compared with Rs 2445.82 crore a year ago.

The company in an announcement to BSE said that subject to necessary board approvals, it is looking to sell its wind energy business. The company said since no agreement has been yet entered into for selling the wind energy business, the company and its subsidiaries will continue to recognise revenues from the business in these consolidated results.

The revenue for the same stood at Rs 68.65 crore, while the net profit was Rs 14.23 crore.

Bindu.menon@thehindu.co.in

(This article was published on August 6, 2012)
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