DLF Shares Rise To Over Three-Month High As Q4 Profit Surges
DLF recorded a consolidated net profit of Rs 1,282 crore for the quarter ended March.
Shares of DLF Ltd. rose to nearly three-month high after its fourth quarter profit rose 39% year-on-year, according to an exchange filing on Monday.
The company recorded a consolidated net profit of Rs 1,282 crore for the quarter ended March, compared to Rs 921 crore in the same quarter of the previous fiscal, according to its stock exchange notification.
Revenue increased by 47% year-on-year for the three months ended March, reaching Rs 3,128 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 30% year-on-year to Rs 978.6 crore. The Ebitda margin narrowed 410 points to 31.3%.
The company is also set to pay a dividend of Rs 6 per share of face value of Rs 2 each for financial year 2025. This is subject to approval of the shareholders.
DLF's development business achieved new sales booking of Rs 21,223 crore during the year. This marked a year-on-year growth of 44%.
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DLF Share Price Advance
Shares of DLF rose as much as 5.87% to Rs 780.95 apiece, the highest level since Feb. 6. They pared gains to trade 5.68% higher at Rs 779.80 apiece, as of 10:15 a.m. This compares to a 0.20% decline in the NSE Nifty 50.
The stock has fallen 8.18% in the last 12 months and 5.52% year-to-date. Total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 52.96.
Out of 24 analysts tracking the company, 21 maintain a 'buy' rating and three recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an upside of 18.7%.
