Shares of DLF today fell nearly three per cent in morning trade on the bourses after the realty major reported a consolidated net loss of Rs 4.19 crore in the fourth quarter of fiscal 2012-13.
DLF had yesterday posted a consolidated net loss of Rs 4.19 crore in the fourth quarter of fiscal 2012-13 due to poor sales and the losses of subsidiaries. It had clocked a net profit of Rs 211.70 crore in the January-March quarter of fiscal 2011-12.
Reacting to the numbers, shares of the company opened at Rs 205, then dropped 2.91 per cent to an intra-day low of Rs 200 on the BSE.
Similar movement was witnessed on the National Stock Exchange as well, where the stock opened at Rs 205, then lost ground and sank 2.79 per cent to a day’s low of Rs 200.
Marketmen attributed the slump in the counter as a knee-jerk reaction to the bad numbers. Moreover, overall sentiment in the market was weak as the benchmark sensitive index Sensex was trading down 242 points.
The company’s performance took a beating as its total sales were down during the quarter under the review.
Besides, the company suffered a total loss of Rs 77.35 crore from its hotel business and its subsidiary firm DLF Pramerica Life Insurance company.