DLF profits up by 23 percent in 2008 Q1

August 1st, 2008 - 7:05 pm ICT by IANS  

Mumbai, Aug 1(IANS) Realty major DLF Ltd has announced a profit after tax of Rs.18.64 billion during the first quarter of fiscal year 2008, a growth of nearly 23 percent from the corresponding period previous year. For the latest quarter ending June, the total income of the company increased to Rs.38.46 billion from Rs.31.21 billion in the corresponding quarter last year.

The company’s EBIDTA (earnings before interest, depreciation, taxes and amortization) - or company’s cash flow before deductions - stood at Rs.23.80 billion up from Rs.22.51 billion, an increase over six percent.

DLF vice chairman Rajiv Singh said: “DLF continues to maintain its momentum in sales and execution while we expect a cautious outlook for the year ahead.”

In the same breath, Singh said market circumstances worldwide are unfavourable.

“The increase in interest rates twice during the last quarter will impact real estate sector but in the long term we are expecting a good growth.”

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