New Delhi: India's largest realty firm DLF Limited today reported 49 per cent fall in consolidated net profit to Rs 145.29 crore in the third quarter of this fiscal hit by one time provision related to the settlement with DDA.
It had posted a net profit of Rs 284.8 crore in the year ago period.
However, income from operations rose by 57 per cent to Rs 2,058.42 crore during October-December quarter of this fiscal against Rs 1,310.04 crore in the corresponding quarter of previous year, DLF Limited said in a filing to the BSE.
Total income rose to Rs 2,590.20 crore in the quarter ended December from Rs 2,291.25 crore in the year ago period.
Profits have also dipped due to increase in finance cost to Rs 633 crore during the third quarter of 2013-14 fiscal from Rs 581 crore in the corresponding quarter of previous year.
DLF Limited has made a provision of losses of Rs 411 crore in the books of account related to its settlement with the Delhi Development Authority (DDA).
DLF Limited recently announced a final settlement with DDA in the Dwarka Convention Centre project. It received a refund of Rs 675.81 crore from DDA as full and final settlement, after forfeiture of 25 per cent of the earnest money.