NEW DELHI: Shares of realty major DLF plunged almost 7 per cent, eroding Rs 1,836 crore from its market valuation, after the company reported a 46 per cent decline in consolidated net profit for the quarter ended December.
The stock dropped 6.98 per cent to settle at Rs 137.20 on BSE. Intra-day, it tanked 7.62 per cent to Rs 136.25.
On NSE, shares of the company tumbled 6.98 per cent to end at Rs 137.15.
Following the dip in the stock price, the company's market valuation plummeted by Rs 1,836.61 crore to Rs 24,476.39 crore.
DLF yesterday reported a 46 per cent decline in its consolidated net profit at Rs 98.14 crore for the quarter ended December on lower sales and higher finance cost.
Its net profit stood at Rs 182.11 crore in the year-ago period, the company said in a regulatory filing.
Income from operations, or net sales, fell by 30 per cent to Rs 2,057.92 crore in the third quarter, from Rs 2,949.54 crore in the corresponding period of the previous year.