PTI reported that DLF has reported 19.2% fall in consolidated net profit to INR 344.5 crore for the last quarter of 2010-11. The company had posted a net profit of INR 426.4 crore in the corresponding quarter last year.

Consolidated sales during the fourth quarter increased by 34.5% YoY to INR 2,683.09 crore, from INR 1,994.4 crore in the year ago period. For the entire 2010-11, the consolidated net profit went down 4.7% to INR 1,639.6 crore, from INR 1,719.84 crore. The consolidated sales in last year rose 28.8% to INR 9,560.6 crore, from INR 7,422.87 crore.

The company board has recommended a dividend of 100%, which is INR 2 per equity share, for 2010-11.

Mr Ashok Tyagi group CFO of DLF said that "Though this consistent high rate of inflation has had a bearing on our performance, we have progressed well on all our key business parameters and continue our focus on enhancing execution and maximizing cash flows."

(Sourced from PTI)