DLF Q4 net drops 23 per cent

Real estate firm DLF has reported a 23 per cent drop in its consolidated net profit at Rs 132 crore for the quarter ended March 2016, according to a published media report.

The company’s consolidated revenues increased by 19 per cent to Rs 2,496 crore for the January-March 2016 quarter from Rs 2,101 crore a year ago, but were down 16 per cent from Rs 2,981 crore in the quarter ended December 2015.

The report said, DLF’s EBIDTA stood at Rs 1,035 crore in the quarter, up 23 per cent from Rs 843 crore a year ago. For the year ended March 2016, DLF’s net profit rose 2 per cent to Rs 549 crore compared to Rs 540 crore in the previous year.

Consolidated revenue for the year stood at Rs 9,819 crore, up 20 per cent from Rs 8,168 crore in the previous year. DLF achieved net sales of 1.14 million sq ft worth Rs 3,150 crore during the year. It completed 14.07 million sq ft of space across projects in the year and achieved net leasing of 1.02 million sq ft of office space during the year.

With this the company’s overall annuity income grew to around Rs 2,600 crore. DLF said the residential sector remained soft during the year with muted demand across most micro markets in which the company is present.