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Business News/ Companies / Company Results/  DLF Q2 profit up 26% YoY to 477 cr, board okays fundraise of 1,500 cr
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DLF Q2 profit up 26% YoY to ₹477 cr, board okays fundraise of ₹1,500 cr

For six months period of FY23, DLF's consolidated net profit jumped to ₹946.61 crore compared to ₹716.05 crore in the corresponding period of the previous year. Revenue for H1FY23 surged to ₹2,743.97 crore versus ₹2,620.43 crore in H1FY22.

EBITDA stood at ₹436.7 crore in the quarter under review, lower by 4.7% from ₹458.3 crore in Q2 of FY22. Margins expanded to 33.5% in Q2FY23 versus 30.9% in Q2FY22.Premium
EBITDA stood at 436.7 crore in the quarter under review, lower by 4.7% from 458.3 crore in Q2 of FY22. Margins expanded to 33.5% in Q2FY23 versus 30.9% in Q2FY22.

Commercial real estate developer, DLF posted a 25.89% rise in consolidated net profit of 477.04 crore which is attributable to owners in the July - September 2022 (Q2FY23) quarter, compared to a profit of 378.93 crore clocked in the same period last year. The Q2 PAT climbed by 1.59% however compared to 469.57 crore in the preceding quarter. The company's board approved fundraising to the tune of 1,500 crore via non-convertible debentures on Friday.

However, in Q2FY23, the company's top-line front declined by 12.06% to 1,302.34 crore from 1,480.90 crore recorded in Q2FY22. Also, revenue dropped by 9.66% from 1,441.63 crore posted in Q1FY23.

EBITDA stood at 436.7 crore in the quarter under review, lower by 4.7% from 458.3 crore in Q2 of FY22. Margins expanded to 33.5% in Q2FY23 versus 30.9% in Q2FY22.

Despite a drop in EBITDA and revenue, the company's PAT jumped after the company witnessed a profit of 216.93 crore in associates and joint ventures during Q2FY23. The company's share of profits in associates and joint ventures stood at 151.79 crore in Q2FY22 and 211.06 crore in Q1FY23.

Also, DLF saw a sharp decline in total expenses to 1,009.27 crore in Q2FY23 against 1,235.79 crore in Q2FY22 and 1,170.52 crore in Q1FY23.

For six months period of FY23, DLF's consolidated net profit jumped to 946.61 crore compared to 716.05 crore in the corresponding period of the previous year. Revenue for H1FY23 surged to 2,743.97 crore versus 2,620.43 crore in H1FY22.

On a standalone basis, the company's net profit stood at 970.92 crore in H1FY23 versus 848.09 crore in H1FY22, while revenue came in at 1,793.69 crore in H1FY23 lower than 1,853.68 crore in H1FY22.

In its regulatory filing, DLF said the board, "approved enabling resolution for raising of funds through NCDs and/ or other debt securities for an amount not exceeding 1,500 crore."

On BSE, DLF shares closed at 370.05 apiece down by 0.91%. The company's market cap is around 91,598.91 crore.

DLF is the largest publicly listed real estate company in India, with residential, commercial, and retail properties in 15 states and 24 cities.

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Published: 21 Oct 2022, 06:58 PM IST
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