DLF reports 9 per cent fall in Q3 net profit

India's largest realty firm DLF on Monday reported a 9 per cent decline in its consolidated net profit at Rs 131.79 crore for the quarter ended December on lower sales.

Its net profit stood at Rs 145.29 crore in the year-ago period, DLF said in a filing to the BSE.

Income from operations fell by 5 per cent at Rs 1,956.72 crore for the third quarter of this fiscal from Rs 2,058.42 crore in the corresponding period of the previous year.

Besides lower sales, DLF's net profit fell because its other income dropped to Rs 123 crore during October-December quarter of this fiscal from Rs 531.78 crore in the year-ago period.

Finance cost, too, increased to Rs 648 crore from Rs 633 crore during the period under review.

"Total income decreased to Rs 2,079.82 crore for the quarter ended December 31, 2014, from Rs 2,590.2 crore for the quarter ended December 31, 2013," DLF said.

DLF has a land bank of about 295 million square feet, of which 50 million square feet is under development.