DLF Ltd unveils spectacular financial results, PAT surged by 40% for Q4FY23
DLF Ltd has declared results for the fourth quarter and year ended March 31, 2023, on May 12, 2023 after closing the market.
On a consolidated basis, the company recorded a 40.45% increase in net profit for the fourth quarter ended March 31, 2023, from Rs 569.60 crore for the same quarter the previous year to Rs 405.54 crore. In Q4FY23, the company’s total revenue declined to Rs 1,575.70 crore from Rs 1,652.13 crore in the same quarter the previous year. Profits for quarter ended March FY23 were driven by strong operating margin performance as there was a fall in raw material cost and other expenses.
The company reported over 35.57% net profit for the year ended March 31, 2023, from Rs 1,500.32 crore to Rs 2,033.95 crore on a consolidated basis. When compared to the year ended March 31, 2022, the company’s total revenue declined from Rs 6,137.85 crore to Rs 6,012.14 crore.
Company board has recommended a dividend of Rs 4 per equity share of face value of Rs 2 for FY23, which is 200% dividend subject to approval of the shareholders.
On May 12, 2023, the last trading day, the scrip closed at Rs 435.90. Today it opened at Rs 442 701 and currently it is trading at Rs 459.10, up by 5.32%. Till now it has touched a high of Rs 461.65 and a low of Rs 440.25, respectively. So far 4,01,251 shares were traded over the counter at BSE.
The BSE group ‘A’ stock has a market capitalization of more than 1.13 lakh crore. It has a 52-week high of Rs 748.45 and a 52-week low of Rs 352.50.
The company is engaged primarily in the business of colonization and real estate development. The operations of the company span all aspects of real estate development, from the identification and acquisition of land, to planning, execution, construction and marketing of projects. The company is also engaged in the business of leasing, maintenance services and recreational activities which are related to the overall development of real estate business.