DLF reports 29% fall in Q1 profit on lower sales

India's largest realty firm DLF on Thursday reported a 29 per cent decline in consolidated net profit at Rs 127.77 crore for the quarter ended June on lower sales.

Its net profit stood at Rs 181.19 crore in the year-ago period.

Total income from operations fell by 25 per cent to Rs 1,725.17 crore in the first quarter of this fiscal as compared to Rs 2,314.08 crore in the corresponding period of previous year.

Share price of DLF, which has a land bank of about 300 million sq ft, declined by 0.87 per cent to close at Rs 198.40 on the BSE. Its market cap stood at Rs 35,347.40 crore.

During the last fiscal, DLF had posted a net profit of Rs 646 crore over a turnover of Rs 9,790 crore.