DLF Q3 net profit down 31% at Rs 258 cr

DLF, India’s largest real estate firm by market cap, reported a profit after tax of Rs 258 crore in the October-December quarter of FY12, a massive fall of 30.65% as compared to Rs 372 crore in the previous quarter.

EBITDA declined 2.6% to Rs 1,184 crore from Rs 1,216 crore during the same period.

Consolidated revenues too fell 21% to Rs 2,034 crore from Rs 2,577 crore QoQ.

Real estate firm reported huge growth in other income at Rs 362 crore in the quarter ended December FY12, a spike of 723% as compared to Rs 44 crore in an earlier quarter.

The company says it may take a few more quarters to regain full momentum. Company’s strategy shall require patience, caution to execute, it adds.

“Operations continue to face domestic and global macro economic headwinds. Macro environment is unfavourable with high interest rates, high commission and labour inflation.”