Mumbai, May 25 : India's real estate developer DLF Ltd has posted 19 percent decrease in its net profit at Rs. 344.54 crore for the quarter ended March 31 as against Rs. 426.38 crore during the like period of the previous fiscal owing to higher steel and cement prices.

Sales, however, rose 34.5 percent at Rs. 2,683.09 crore during the quarter under review as compared to Rs. 1,994.37 crore during the like period of the previous financial year, the company said in a regulatory filing late Tuesday evening.

The company also recommended an interim dividend of Rs. 2 per equity share.

At the Bombay Stock Exchange the shares of the company were 3.95 percent lower to trade at Rs. 210.30. (IANS)