DLF Q3 profit soars to Rs 4,091 crore
Realty major DLF on Tuesday reported nearly 42-fold jump in its consolidated net profit at Rs 4,091.27 crore for the quarter ended December. Its net profit stood at Rs 98.14 crore in the year-ago period, DLF said in a regulatory filing.
Total income, however, fell to Rs 1,855.21 crore in the third quarter of 2017-18 fiscal from Rs 2,177.90 crore in the corresponding period of the previous year.
The company said that the gains were exceptional on account of valuation of its balance stake in rental arm DLF Cyber City Developers Ltd. In December, DLF said its promoters had concluded the sale of a 33.34% stake in its rental arm to GIC Pte Ltd for around Rs. 8,900 crore. The Group has valued its remaining equity stake (66.66%) in DCCDL Group and recorded a gain of around Rs 9,927.3 crores arising due to deemed disposal on account of loss of control of DCCDL Group.