DLF shares recover after falling 4% on weak margins
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Mumbai: Shares in DLF Ltd rose 2% on Friday after falling as much as 4% in early trade after its January-March earnings fell short of some analysts’ estimates.
The real estate developer on Thursday reported a profit in the fourth quarter, helped by a gain from the sale of its Aman Resorts luxury hotel chain.
“The company’s revenue was in line with estimates, but margins disappointed once again,” Motilal Oswal Securities said in a note.
Weak demand and lack of fresh launch have resulted in deterioration in core operating cash flow as well, it added.
DLF shares were up 2.09% to Rs.208 at 11:12am on BSE while the benchmrk Sensex was trading 0.2% higher at 24,284.10.
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