DLF’s Q2 consolidated net profit up over 100%

DLF’s Q2 consolidated net profit up over 100%

Mumbai: Real Estate major DLF on Thursday reported an exponential rise of 104 per cent rise in its consolidated net profit to Rs 376 crore in the quarter ended September 30, 2018.

The real estate major’s net profit during the corresponding period of the previous fiscal stood at Rs 185 crore.

According to a company statement, the consolidated revenues grew by 39 per cent to Rs 2,305 crore for the quarter ended September 30, 2018, from Rs 1,658 crore in Q1 FY18.

“Recently, there have been certain issues in the credit markets owing to the NBFCs, which has resulted in temporary turmoil. However, the company has adequate liquidity and access to capital to meets all its obligations on time,” the company said in a statement.

“The company believes that its strategy of creating finished inventory will come to fruition in these circumstances and is well poised to grab such opportunities.”