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DLF stock closes 18.28% higher post Q1 earnings

DLF on Thursday reported a 5 per cent decline in consolidated net profit at Rs 121.55 crore for the quarter ended June due to higher finance costs and rise in operational expenses.

Shares of realty firm DLF on Friday rose 18.28 per cent after the company saw an increase in total income in the April-June quarter of 2015-16.

The stock rallied to Rs 134.90 on BSE. On NSE, it jumped over 18.42 per cent to Rs 135.30.

DLF on Thursday reported a 5 per cent decline in consolidated net profit at Rs 121.55 crore for the quarter ended June due to higher finance costs and rise in operational expenses.

Its profit stood at Rs 127.77 crore in the year-ago period. Total income increased to Rs 2,345.62 crore in the June quarter of 2015-16, from Rs 1,851.6 crore a year earlier, DLF had said in a filing to BSE.

Net profit fell during the June quarter as finance costs increased to Rs 604.32 crore, from Rs 558.10 crore earlier, while total expenses rose 37 per cent to Rs 1,539.96 crore, from Rs 1,122.70 crore in the year-ago period.