DLF shares plunge over 5 percent on weak Q3 results

Mumbai: Shares of realty firm DLF today plunged by over 5 percent in morning trade after the company reported 45 percent decline in consolidated profit after tax for the third quarter of 2011-12.

After a weak opening, DLF’s shares dropped further by 5.15 percent to Rs 218.80 on the BSE. Similarly, on the NSE, the stock tanked 5.37 per cent to Rs 218.50.

[caption id=“attachment_211170” align=“alignleft” width=“380” caption=“DLF had posted PAT of Rs 466 crore in October-December quarter of last financial year 2010-11”] [/caption]

The scrip was the worst performer among the bluechip stocks on both NSE and BSE during morning trade. DLF on Friday last week reported 45 per cent decline in consolidated profit after tax at Rs 258 crore for the third quarter ended December, on account of lower than expected sales.

The company had posted PAT of Rs 466 crore in the October-December quarter of last financial year 2010-11. In the broader market, the BSE benchmark Sensex was trading down 4.25 points at 17,744.44 at 1055 hrs.

PTI