Shines in Q1FY17: DLF's net profit rose two-times higher to Rs 261 crore
DLF - a premier real estate company in India for six decades, reported robust net profit in the June quarter ended 2016.
The real estate-giants consolidated net profit clocked over two-folds jump to Rs 261.42 in Q1FY17 against Rs 125.87 crore in the corresponding period of the previous year.
However, total income from operations was a disappointment at Rs 1867.46 crore, declining by 21.82% from Rs 2388.72 a year ago same period.
While operating profit (EBITDA - earnings before interest tax depreciation and amortization) of Rs 744.84, declined 14.28% year-on-year (YOY). It's operating profit margin was at 39.88%, expanding by 351 basis points yoy.
The bottom-line was driven by strong EBITDA margins while the bottom-line tumbled due to DLF's 71 subsidiaries financial results not registered in this Q1FY17.
These 71 subsidiaries interim financial results (after eliminating intra-group transaction) reflects total revenue of Rs 7.31 crore in this quarter.
On the standalone front, the company witnessed net profit of Rs 67.46 crore in Q1FY17 against the net loss of Rs 42.33 crore in June 2015.
The company's standalone total income also recorded growth of 39.54% to Rs 676.17 crore from Rs 484.54 crore last financial year same quarter.
Also, standalone operating profit of Rs 200.45, increased by 25.07% yoy. While OPM was around 29.64, contracting by 343 bps yoy.