Unitech shares plunge as much as 5% as loss widens

Unitech’s consolidated net loss widened to Rs.539.47 crore in the fourth quarter ended March on account of lower income from operations


Its total income from operations during January-March quarter stood at <span class='WebRupee'>Rs.</span>483.55 crore, much lower than <span class='WebRupee'>Rs.</span>813.23 crore in the year-ago period. Photo: Pradeep Gaur/Mint
Its total income from operations during January-March quarter stood at Rs.483.55 crore, much lower than Rs.813.23 crore in the year-ago period. Photo: Pradeep Gaur/Mint

Mumbai: Shares of realty firm Unitech fell as much as 5% on Tuesday after the company’s consolidated net loss widened to Rs.539.47 crore in the fourth quarter ended March.

The stock dipped 2.27% to Rs.3.89 on BSE at 3:10PM. On NSE, it slipped 3.75% to Rs.3.85 at 3:10PM. Unitech’s consolidated net loss widened to Rs.539.47 crore in the fourth quarter ended March on account of lower income from operations.

The company had reported a net loss of Rs.162.54 crore in the corresponding quarter of 2014-15. Its total income from operations during January-March quarter stood at Rs.483.55 crore, much lower than Rs.813.23 crore in the year-ago period, the company had said in a BSE filing on Monday.

However, its total expenses reduced to Rs.987.85 crore during the quarter under review as against Rs.1,143.83 in the year-ago period. Consolidated net debt as on 31 March 2016, was Rs.7,165.70 crore.

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