The DLF’s Q4 net profit took a rise up to 66 percent that is up to Rs 247.73 crore. Despite the lower sales, it is in the fourth quarter of the last fiscal. According to the company in a regulatory filing, the net profit for the previous year was Rs 149.14 crore.
Total income of the company reduced to Rs 1845.92 crore during the last fiscal of the January-March quarter. But in the previous year the total income the company was Rs 2511.37 crore.
During the full fiscal of 2017-18, the DLF’s Q4 net profit jumped from Rs 714.79 crore. It jumped to Rs 4462.86 crore. The jump was due to an exceptional gain of fair valuation on the account. The fair valuation of the DLF’s residual stake is in SCCDL that is in its JV firm.
However, in the last fiscal the total income fell to Rs 7663.71 crore from Rs 8940.51. Rs 8940.51 crore was in the financial year of 2016-17.
About the DLF’s Q4 net profit
In the rental arm of DLF Cyber City Developer Ltd, the DLF promoters sold the stake of 40 percent. The amount is nearly around Rs 1200 crore. The deal includes the sale of 33.33 percent of the stake. The stake is to GIC and the amount is around Rs 9,000 crore. Before this deal, the DLF’s Q4 net profit rose to 66.66 percent from 60 percent.
According to the board, the final dividend for the last fiscal is Rs 0.80 per share. There is already a payment of Rs 1.20 per share. In the last fiscal DLF achieved a net sale of Rs 1000 crore. They completed the projects of 8.6 million square feet.
According to DLF, the company have a commitment to achieving the net debt zero level. Their main motive is to represent their segment of development by the finish of the running fiscal. The net debt will retire on 31st March 2018 which is Rs 6256 crore. They will retire through the equity issuances taking place in the current year.
The commercial segment is expecting and continuing to exhibit a good growth. SLF remains committed to timely execution. They also achieved the completion of 8.6 million square feet project.
So the main point of the news is that DLF’s Q4 net profit rose. It rose to an amount of Rs 247.73 crore that is up to 66 percent.