Unitech net down 16 percent at 567.66 Crore in 2010-11

Monday, 30 May 2011, 09:11 Hrs
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New Delhi: One of India's largest realty firm Unitech has reported nearly 16 percent decline in its consolidated net profit at Rs 567.66 crore in 2010-11 fiscal due to higher return from assets sales in the previous year.

The company had posted a net profit of Rs 675.05 crore in 2009-10 fiscal.

Net sales, however, rose by 8.7 percent at Rs 3,187.09 crore in the last fiscal against Rs 2,931.33 crore in 2009-10, the company said in a late night statement.

Shares of Unitech opened on a weak note today but soon regained the lost ground and were trading with gains of 2.87 percent on the Bombay Stock Exchange by 12.06 pm.

Unitech's net debt reduced by Rs 228 crore in last fiscal and stood at about Rs 5,300 crore as on March 31, he added.
Source: PTI
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