DLF Limited announced consolidated revenues of Rs 1,855 crore for the quarter ended December 31, 2018, an increase of 6 per cent from Rs 1,751 crore in Q2 FY18. "EBIDTA stood at Rs 862 crore, compared to Rs 950 crore in the Q2 FY18. Net profit stood at Rs 4,100 crore, compared to Rs 19 crore in Q2 FY18. This includes a one-time exceptional gain on account of restatement of the DLF' s investment in DCCDL at fair market value based on IndAS 110, as DCCDL is now being accounted as a Joint venture instead of a subsidiary," a company release stated on Tuesday.
Certain other revaluation, impairments and provisions relating to valuation of certain assets, land parcels and investments have also been accounted for. The non-annualized EPS for the quarter was Rs22.93 including one-time, exceptional gain. Net Bank Debt for DLF(consolidated, Ex-DCCDL) stood at approx Rs 5,500 crore.
The DDCDL CCPS transaction was consummated in the month of December, 2017. The Promoters received the consideration of Rs 8,900 crore(approx) against the sale of shares and Rs 1,600 crore(approx) towards buyback of CCPS.
The Board of Directors, today, has appointed Mr Vivek Mehra as an Independent Director.
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