DLF shares rise over 2 per cent on posting over 2-fold jump in Q1 net profit

By: | Updated: August 30, 2016 4:30 PM

DLF shares surged over 2 per cent after the realty major posted over two-fold jump in consolidated net profit to Rs 261.42 crore for the quarter ended June 30 as against Rs 125.87 crore in the April-June quarter of last financial year.

DLF sharesDLF shares surged over 2 per cent after the realty major posted over two-fold jump in consolidated net profit to Rs 261.42 crore for the quarter ended June 30 as against Rs 125.87 crore in the April-June quarter of last financial year.

DLF shares surged over 2 per cent on Tuesday after the realty major posted over two-fold jump in consolidated net profit to Rs 261.42 crore for the quarter ended June 30 as against Rs 125.87 crore in the April-June quarter of last financial year. The company said sale of its cinema business to PVR contributed in its net profit rise. However, total income of the company decreased by 19.62% to Rs 2025.58 crore for quarter under review from Rs 2520.02 crore for the quarter ended June 30, 2015.

The scrip closed 2.46 per cent up at Rs 162.20. Share price of the company has opened at Rs 157.40 and touched a high and low of Rs 163.45 and Rs 155.10, respectively. Sensex closed 440.35 points up at 28,343.01.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52-week-high of Rs 169.60 on Aug 19, 2016 and a 52-week-low of Rs 72.50 on Feb 12, 2016.

The promoters holding in the company stood at 74.95 per cent, while institutions and non-institutions held 18.24 per cent and 6.80 per cent respectively.

Income from operations of the company decline by 22 per cent to Rs 1,867.46 crore during the first quarter of the current fiscal, from Rs 2,388.72 crore in the year-ago period.

In May this year, the company had entered into an amended agreement to sell its 32 screens of DT cinemas to multiplex operator PVR at a revised consideration of Rs 433 crore. The company’s promoter may sell 40 per cent stake in its rental arm by September, a deal estimated to fetch around Rs 12,000 crore.

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