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Shares of realty major DLF took a hit in morning trade on the bourses today falling by 5 per cent on the NSE after the company reported a drop in consolidated net profit for the quarter ended March 31, 2011.
On the NSE, the stock plunged by 5.02 per cent to hit a one-year low of Rs 208.10.
In a similar fashion, the scrip of the country’s largest realty firm fell by 4.97 per cent to touch a 52-week low of Rs 208.05 on the BSE.
According to analysts, the company’s quarterly profit missed market estimates resulting in the stock coming under selling pressure.
DLF reported a 19.19 per cent fall in consolidated net profit to Rs 344.54 crore for the last quarter of 2010-11.
The company had registered a net profit of Rs 426.38 crore in the corresponding quarter last year.
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