New Delhi, Jun 12 (IANS): DLF on Friday reported a net profit of Rs 481 crore for the January-March qaurter of FY 2020-21, reflecting a year-on-year growth of 42 per cent.

Its consolidated revenue increased 2 per cent to Rs 1,907 crore, the company said in a statement.

"Our business exhibited resilient performance amidst a challenging year. We remain confident of delivering our business goals," it said.

The company added that DLF's new product launches of independent floors in DLF City and New Gurgaon witnessed healthy absorption, vindicating demand for quality products in established locations. It clocked new products sales booking of Rs 908 crore during the second half of the 2020-21 fiscal.

Optimised cost structures and efficient working capital management coupled with a steady ramp-up in collections led to positive cash flows in all quarters, it said.

Consequently, its net debt stood at Rs 4,885 crore with a reduction of Rs 382 crore, DLF said.