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Unitech's first quarter net profit down 48 percent

Posted on Aug 13 2014 | IANS

Mumbai, Aug 13 : Real estate and infrastructure developer Unitech Wednesday reported a decline of 48.73 percent in its net profit during the first quarter of the current fiscal at Rs.18.42 crore.

The company had posted a net profit of Rs.35.93 crore for the quarter ended June 30, 2013.

According to the company, its' total income in the quarter under review increased 4.07 percent at Rs.400.60 crore from Rs. 384.91 crore for the quarter ended June 30, 2013.

"Demand for real estate continues to be sluggish. In this environment, company has been focusing on maximising sales bookings from its existing projects and delivery of completed projects," said Sanjay Chandra, managing director, Unitech.

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