InvestorQ : What explains the sharp growth in profits of DLF in the Jun-21 quarter?
Dawn Cherian made post

What explains the sharp growth in profits of DLF in the Jun-21 quarter?

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Mitali Bhutta answered.
5 months ago
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DLF net profits turned around to Rs.337 crore PAT for the Jun-21 quarter in contrast to a net loss of Rs.-71.5 crore in the Jun-20 quarter. For the June 2021 quarter, DLF reported operating revenues of Rs.1,140 crore, which is higher by 108% on yoy basis. COVID 2.0 surely left its mark on DLF as operating revenues fell 33.5% and PAT fell 29.4% sequentially.

For the quarter, DLF reported new sales bookings up 5.7X at Rs.1,014 crore. Due to the lockdown and the extant restrictions, DLF does face some serious challenges in the rental business. However, DLF expects the demand for office space to bounce back in the second half of 2021. The debt reduction plan appears to have been put in motion with the net debt has falling from Rs.5,267 crore in the Jun-20 quarter to Rs.4,745 crore in the Jun-21 quarter.

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