DLF Q3 net profit almost halves to Rs 145 crore

DLF Ltd, India's top real estate developer, reported its quarterly net profit almost halved, hurt by a one-off loss, although the profit was slightly ahead of analysts' estimates.

Consolidated net profit fell 49 per cent to Rs 145 crore from Rs 285 crore a year earlier, New Delhi-based DLF, founded by billionaire K.P. Singh, said in a statement on Friday.

The latest quarter results included an exceptional charge of Rs 411 crore over a "foreseeable loss" as it settled a dispute with a government agency over a project.

Five analysts on average had expected DLF to report a net profit of Rs 120 crore, according to Thomson Reuters data.

Income from operations rose to Rs 2,058 crore for the three months to December, from Rs 1,310 crore a year earlier.

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