DLF’s Q3 consolidated net profit at Rs 345 cr

DLF’s Q3 consolidated net profit at Rs 345 cr

New Delhi: Real Estate major DLF on Tuesday reported a consolidated net profit of Rs 345 crore for the quarter ended December 31, 2018.

In the corresponding quarter of last fiscal, the company had reported a consolidated net profit of over Rs 4,000 crore which included extra-ordinary income of Rs 8,569 crore on account of revaluation of its investment in DCCDL (DLF Cyber City Developers Ltd) and fair valuation of certain other assets.

The company’s consolidated net profit stood at Rs 376 crore in Q2.

“The company’s strategy of selling completed inventory and its focus on strength of balance sheet has borne fruit. It recorded third consecutive quarter of healthy sales and second consecutive quarter of positive operating cash, which stood at Rs 133 crore,” the real estate firm said in a statement.

“During Q3FY18, DLF Ltd had an extra-ordinary income of Rs 8,569 crore on account of revaluation of its investment in DCCDL and fair valuation of certain other assets. Hence, the year-on-year figures are not comparable.”

According to the company, consolidated revenues increased to Rs 2,406 crore for the quarter ended December 31, 2018 from Rs 2,305 crore in Q2 FY19.