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DLF shares plunge on weak Q3 results

DLF shares plunge on weak Q3 results

Shares of realty firm DLF on Monday plunged by over 5 per cent in early trade after the company reported 45 per cent decline in consolidated profit after tax for the third quarter of 2011-12.

Shares of realty firm DLF on Monday plunged by over 5 per cent in early tradeafter the company reported 45 per cent decline in consolidated profit after taxfor the third quarter of 2011-12.

After a weakopening, DLF's shares dropped further by 5.15 per cent to Rs 218.80 on the BSE.Similarly, on the NSE, the stock tanked 5.37 per cent to Rs 218.50.

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The scrip was theworst performer among the bluechip stocks on both NSE and BSE during morningtrade.

DLF on Friday lastweek reported 45 per cent decline in consolidated profit after tax at Rs 258crore for the third quarter ended December, on account of lower than expectedsales.

The company hadposted PAT of Rs 466 crore in the October-December quarter of last financialyear 2010-11.

In the broadermarket, the BSE benchmark Sensex was trading down 4.25 points at 17,744.44 at10:55 hrs.

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Feb 13, 2012, 12:17 PM IST
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