DLF Ltd., a big player in the real estate industry, made more money than expected in the second quarter of the fiscal year 2024. Their total profit went up to Rs 622 crore, which is 30% higher compared to the same time last year when it was Rs 477 crore.
This news comes from an official report on Monday. Analysts who predict financial outcomes had guessed that DLF would make around Rs 563 crore, so this result was a pleasant surprise for everyone.
In the period from July to September, DLF Ltd. earned Rs 1,348 crore from its core operations, which is slightly more than the Rs 1,302 crore they made in the same period last year. However, this fell short of the Rs 1,586 crore that financial experts had expected, according to Bloomberg’s survey of analysts.
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On a positive note, DLF’s additional income also went up significantly, from Rs 58 crore in the previous year’s quarter to Rs 128 crore this time around.
DLF Q2 Results Key Highlights
1. Net profit up 30% at Rs 622 crore vs Rs 477 crore.
2. Revenue rose 3.5% to Rs 1,348 crore vs Rs 1,302 crore.
3. Ebitda up 6% at Rs 462 crore vs Rs 437 crore.
4. Ebitda margin at 34% vs 33.5%.
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Other Highlights
Fresh sales bookings for the quarter clocked in at an impressive Rs 2,228 crore.
DLF, after sharing out Rs 990 crore in dividends, proudly announced that it had Rs 142 crore in surplus cash by the end of the second quarter.
“We did what we promised by reaching a net debt-free status. We’ll keep working on making our financial situation even stronger by consistently bringing in more cash,” they stated.
DLF’s stock price went up by 3% to Rs 553 each before they shared the results. In contrast, the main Sensex index only increased by 0.5%. So, DLF’s stock has gained about 46% in value since the beginning of the year.
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