DLF stock slips on disappointing Q4 nos

Mumbai: Shares of realty major DLF tanked in morning trade today, falling by 5 per cent on the NSE after the company reported 19 percent drop in consolidated net profit for the quarter ended 31 March 2011.

On the NSE, the stock plunged to hit a one-year low of Rs208.10. In a similar fashion, the scrip of the country's largest realty firm fell by 4.97 per cent to touch a 52-week low of Rs208.05 on the BSE.

DLF reported a 19 percent fall in net profit for Q4. Arko Datta/Reuters

According to analysts, the company's quarterly profit missed market estimates, resulting in the stock coming under selling pressure.

DLF reported a fall in consolidated net profit to Rs344.54 crore for the last quarter of 2010-11.

The company had registered a net profit of Rs426.38 crore in the corresponding quarter last year.

Meanwhile, the broader market bellwether Sensex was trading at 17,945.49, down by 66.48 points, at 10.18 hours.

PTI


Published Date: May 25, 2011 11:30 am | Updated Date: May 25, 2011 11:30 am