DLF Ltd Q4FY23 PAT up 40.6% yoy at Rs570 crore on lower debt and higher contribution from DCCDL

DLF Ltd reported -4.6% fall in total revenues for the March 2023 quarter on consolidated basis at Rs1,576cr. On a sequential basis, the revenues were up 1.03%. The gross margins for the quarter improved from 51% to 57% in the quarter. For the quarter, DLF reported Rs8,458 crore of new sales bookings and Rs1,929 crore of collections. Both are records for any quarter in the past for DLF.

Its surplus cash flows for the quarter stood at Rs1,369 crore and the surplus for the full year FY23 stood at Rs2,543 crore. Full year PAT growth for FY23 was up 36% yoy at Rs2,053 crore. The company also reported one of its lowest level of debt at Rs721 crore and this has been substantially reduced over time.

Financial highlights for Mar-23 compared yoy and sequentially

 DLF Ltd    

Rs in Crore

Mar-23

Mar-22

YOY

Dec-22

QOQ

Total Income (Rs cr)

₹ 1,576

₹ 1,652

-4.63%

₹ 1,560

1.03%

Operating Profit (Rs cr)

₹ 518

₹ 472

9.75%

₹ 542

-4.43%

Net Profit (Rs cr)

₹ 570

₹ 405

40.63%

₹ 518

10.05%

 

 

 

 

 

 

Diluted EPS (Rs)

₹ 2.30

₹ 1.64

 

₹ 2.10

 

OPM

32.87%

28.57%

 

34.75%

 

Net Margins

36.18%

24.53%

 

33.21%

 

 

The 40% growth in profits was largely due to two factors. There was a 57% growth in the contribution of DCCDL, the subsidiary that handles commercial leases and has a tie up with the sovereign fund of Singapore. The other reason for the boost to profits was the fall in financing costs due to lower debt.

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