DLF net profit falls 5% in Q1 to Rs 121.55 cr

India's largest realty firm DLF on Thursday reported 5 per cent decline in consolidated net profit at Rs 121.55 crore for the quarter ended June on higher finance costs.

Its net profit stood at Rs 127.70 crore in the year ago period. Income from operations, however, rose to Rs 2,231.15 crore in the first quarter of this fiscal from Rs 1,725.17 crore in the corresponding period of the previous year.

Total income has increased from Rs 1,851.6 crore for the quarter ended June 30, 2014 to Rs 2,345.62 crore for the quarter ended June 30, 2015, DLF said in a filing to the BSE.

Finance cost increased to Rs 604.32 crore from Rs 558.10 crore during the period under review. On standalone basis, the company posted a net loss of Rs 101.88 crore for the quarter ended June 30, 2015, against a net profit of Rs 72.64 crore in the year-ago period.

Total standalone income decreased to Rs 535.71 crore for the quarter ended June 30, 2015, from Rs 762.38 crore for the quarter ended June 30, 2014, the filing said. DLF has a land bank of about 300 million sq ft of which nearly 50 million sq ft is under construction.