DLF share price hits lowest since October 27 on Q4 revenue
The real estate developer stock dived as much as 5.3 per cent to Rs 183.25, its lowest in over 6 months since October 2017. The stock is top percentage loser on Nifty Realty index, which was trading 0.1 per cent higher.The real estate major reported a consolidated net profit of Rs 244 crore for the fourth quarter (Q4) of 2017-18.Nearly 8.1 million shares changed hands as of 0510 GMT, 1.4 times the 30-day average volume. Couple of days ago, the company quoted that its Q4 revenue plunged over 38 per cent to Rs 1,378 crore ($202.7 million). Share of profit in associates and joint ventures of the company stood at Rs 205 crore, compared with a loss a year earlier; the consolidated results were not comparable to prior periods, DLF added. According to the Monday's close, the stock had fallen 25.4 per cent this year compared with a 15.6 per cent decline in the Nifty Realty index.
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