DLF shares rise by over 18% on spectacular quarterly numbers

Shares of realty firm DLF Ltd on Friday zoomed by over 18 per cent, adding Rs 3,721.6 crore to its market <g data-gr-id="20">valuation,</g> after the company saw an increase in total income in the April-June quarter.

The stock surged 18.28 <g data-gr-id="18">per cent</g> to settle at Rs 134.90 on BSE. During the day, it climbed 19.46 per cent to Rs 136.25. At the NSE, shares of the company soared 18.38 per cent to end at Rs 135.25. The company's market valuation rose by Rs 3,721.6 crore to Rs 24,048.60 crore.

In terms of volume, 40.23 lakh shares of the company changed hands at the BSE and over two crore shares were traded at the NSE during the day. DLF on Thursday posted 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.