DLF gains over 7.5%

DLF is doing well today morning with the stock price hitting an intraday high of Rs.207.15, rising over 7.5% and just 1.45% away from its 52-week high of Rs.209.40.

The company posted a consolidated net profit of Rs.446 crore, a 19% (YoY) rise mainly on the back of a 10% (YoY) fall in total expenses and tax outgo coming down from Rs.139 crore to Rs.74 crore. Thus net profit rose despite a fall in total income by 16% at Rs.1940 crore.

What also helped was an exceptional gain of Rs.143.56 crore.

Pursuant to the settlement of inter-company payables, the net debt for the company stood at Rs 4,461 crore at the end of the quarter.

The stock price, more than the earnings has spurted up on its inclusion in the MSCI Global Standard Index with effect from November 26, 2019.