Delhi Land Finance shares gain 4% post earnings

Mumbai, May 30 :  Shares of realty firm DLF today rose by 4 per cent after the company reported a consolidated net profit of Rs 219.68 crore for the quarter ended March, 2014. DLF’s scrip gained 4 per cent to Rs 212 on the BSE in morning trade. At the NSE, the stock rose by 4 per cent to Rs 212.

Making a turnaround, DLF had yesterday reported a consolidated net profit of Rs 219.68 crore for the quarter ended March, 2014 on the back of gains from sale of hotel chain Amanresorts. The company had registered a net loss of Rs 4.19 crore in the year-ago period. Total income from operations fell by 11.5 per cent to Rs 1,969.45 crore in the fourth quarter of the last fiscal against Rs 2,225.55 crore in the corresponding period of previous year.

DLF posted net profit in March, 2014 quarter helped by a sharp jump in other income to Rs 552.15 crore from Rs 93.24 crore in the year-ago period.