Mumbai: Wiping out initial losses, shares of realty firm DLF today ended with over 2 percent gains on fag-end buying.
The company has reported a 9 percent decline in consolidated net profit for the quarter ended December 31 post market hours yesterday.
After falling 5.91 percent to Rs 148 in intra-day trade at the BSE, shares of DLF saw some buying at the fag-end of the trade and finally ended at Rs 157.95, up 0.41 percent.
At the NSE, it settled 2.20 percent higher at Rs 160.55.
In terms of volume, 20.77 lakh shares of the company changed hands at the BSE and over one crore shares were traded at the NSE during the day.
India's largest realty firm DLF had yesterday reported 9 percent decline in consolidated net profit at Rs 131.79 crore for the quarter ended December due to fall in sales as well as other income.
Its net profit stood at Rs 145.29 crore in the year-ago period, DLF had said in a filing to the BSE.
Income from operations fell by 5 percent at Rs 1,956.72 crore for the third quarter of this fiscal from Rs 2,058.42 crore in the corresponding period of the previous year.
Total income declined by 20 percent to Rs 2,079.82 crore for the quarter ended December 31, 2014, from Rs 2,590.2 crore for the quarter ended December 31, 2013.
Besides lower sales, DLF's net profit fell because its other income dropped by 77 percent to Rs 123.1 crore during October-December quarter of this fiscal from Rs 531.78 crore in the year-ago period.
Meanwhile, the Competition Commission has ordered a fresh probe against realty major DLF, finding the company to have prima-facie abused its dominant position, making it the second such probe ordered within two days.
The new order, in which CCI has asked its investigative arm to conduct a detailed probe, relates to alleged "abuse of dominant position in development and sale of residential units in Gurgaon" for the Skycourt residential project of DLF Universal Ltd.
This follows another probe ordered by CCI yesterday for probe into similar complaints related to the 'Regal Gardens at DLF Garden City' project in Gurgaon.
In the broader market, the BSE benchmark Sensex today ended at 28,355.62, up 128.23 points or 0.45 percent.
