DLF shares rally over 7% after March quarter earnings

New Delhi: Shares of DLF Ltd on Monday jumped over 7 per cent after the company reported a 40 per cent increase in its consolidated net profit for the quarter ended March 2023 and clocked record sales bookings of Rs 15,058 crore in the last fiscal.

The stock climbed 7.43 per cent to settle at Rs 468.30 on the BSE. During the day, it rallied 9.10 per cent to its 52-week high of Rs 475.60.

At the NSE, it jumped 7.36 per cent to end at Rs 468.05.

In traded volume terms, 9.59 lakh shares of the company were traded at the BSE and over 2.81 crore shares at the NSE during the day.

Realty major DLF Ltd on Friday reported a 40 per cent increase in its consolidated net profit at Rs 569.60 crore for the quarter ended March 2023.

Its net profit stood at Rs 405.54 crore in the fourth quarter of 2021-22 fiscal.

Total income fell to Rs 1,575.70 crore in the March quarter of this fiscal year from Rs 1,652.13 crore in the corresponding period of the previous year, according to a regulatory filing.

Total expenses in the January-March quarter fell to Rs 1,178.31 crore from Rs 1,344.83 crore, leading to a rise in the net profit number.

DLF's net profit increased 36 per cent to Rs 2,033.95 crore in the last fiscal from Rs 1,500.32 crore in 2021-22.

Total income declined to Rs 6,012.14 crore in the 2022-23 financial year from Rs 6,137.85 crore in the previous year.

In a statement, DLF said that its residential business delivered a record performance by clocking new sales bookings of Rs 8,458 crore in the March quarter, reflecting a year-on-year (Y-o-Y) growth of 210 per cent.

"Cumulative new sales for the last fiscal stood at Rs 15,058 crore, record annual sales bookings," it said.