DLF Q2 operating profit 176% higher at Rs.310.36cr

DLF reported fall of 6.16% in top line sales for the Sep-20 quarter at Rs1,609.82cr.

Oct 30, 2020 06:10 IST India Infoline News Service

DLF1
DLF reported fall of 6.16% in top line sales for the Sep-20 quarter at Rs1,609.82cr. However, the company managed a turnaround after a very bad performance in Jun-20 quarter due to COVID. Now revenues are almost back to the pre-COVID levels, which is encouraging.


The operating profits for the quarter ended Sep-20 was 176% higher on a yoy basis at Rs310.36cr on the back of much lower financing costs due to reduced debt as well as substantially lower other expenses in the quarter.


The net profits for the Sep-20 quarter were, however, sharply lower by 48.64% at Rs227.75cr. This was largely due to an extraordinary write-off in the current Sep-20 quarter along with an extraordinary gain in the Sep-19 quarter which magnified impact on profits.

This had an overall impact on the margins of DLF. For the Sep-20 quarter, the operating profit margins or OPM was up almost 3-fold at 19.28%. However, the net profit margins or NPM for the quarter virtually halved to 14.15% due to the effect of extraordinary items.

Financial highlights for Sep-20 compared yoy and sequentially


DLF
Rs in Crore Sep-20 Sep-19 YOY Jun-20 QOQ
Revenues 1,609.82 1,715.51 -6.16% 548.63 193.43%
Operating Profit 310.36 112.16 176.71% -179.48 Not Relevant
Net Profits 227.75 443.41 -48.64% -71.52 Not Relevant
Diluted EPS (Rs) 0.94 1.80 -0.29
OPM 19.28% 6.54% -32.71%
Net Margins 14.15% 25.85% -13.04%
 
 

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