The company announced the results after market hours on Wednesday, 30 May 2012.
Meanwhile, the BSE Sensex was down 164.34 points or 1.01% to 16,147.81.
On BSE, 1.19 lakh shares were traded in the counter as against average daily volume of 5.13 lakh shares in the past one two weeks.
The stock hit a high of Rs 181.50 and a low of Rs 178 so far during the day.
Higher base effect was partly responsible for the year-on-year decline in DLF's bottom line in Q4 March 2012. DLF said consolidated net profit of Rs 345 crore in Q4 March 2011 included one-time gain of Rs 72 crore. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 9% to Rs 928 crore in Q4 March 2012 over Q4 March 2011.
DLF's consolidated net profit fell 27% from Rs 1639 crore on 1% growth in revenue to Rs 10224 crore in the year ended March 2012 (FY 2012) over the year ended March 2011 (FY 2011).
Despite the weak economic environment, global uncertainties and difficult conditions for the sector, the company's focused business strategy enabled it to achieve the targeted volumes and deliveries, DLF said. However, continuing high inflation coupled with a one-time budgetary impact of Rs 300 crore due to outsourcing of construction activities in ongoing projects to best in class third party construction agencies adversely impacted the financial performance of the company during the period under review, the company said. It is anticipated that after this transition, the company shall be able to focus on its core strengths of real estate development which in-turn will reflect in better financial performance going forward, DLF said in a statement.
Regardless of the economic headwinds and cost pressures, the company continues to demonstrate strength by achieving better than expected sales volumes and sustainable EBITDA (earnings before interest, tax, depreciation and amortization) margins in the range of 45% plus (unadjusted for one-time costs), the company said. The company has also made significant progress in its divestment initiative of non-core assets and expects closure in the near term, DLF said in a statement.
The management expects that the current economic and business environment will continue to stay challenging for the next few quarters and hence the company will continue to focus on high visibility projects (plotted development and luxury/premium housing) to improve the cash cycle, timely execution and delivery of its projects, certain strategic divestments of assets and cash conservation, DLF said.
DLF's board of directors at a meeting held on Wednesday, 30 May 2012 declared a dividend of Rs 2 per share for the year ended March 2012.
DLF's primary business is development of residential, commercial and retail properties.