NEW DELHI: Real estate developer DLF slipped over 5 per cent on early Tuesday, a day after the company announced its March quarter results.Consolidated net profit went up 66 per cent to Rs 247.73 crore in January-March despite lower sales.
The corresponding figure was Rs 149.14 crore in the year-ago period.
However, total income fell to Rs 1,845.92 crore during the period, from Rs 2,511.37 crore a year earlier.Last fiscal, DLF achieved net sales of Rs 1,000 crore and completed projects of 8.6 million sq ft.
"The markets are expected to have bottomed out and a revival is on the cards in the medium term," DLF said, adding that the company plans to continue to focus on the premium and luxury segment to garner healthy margins.At 11:05 am, the stock was trading at Rs 188.30 on the BSE, down 2.89 per cent.