Unitech Q3 beats forecast, net up 71% to Rs 84cr; shrs gain

Consolidated total income rose by 19.4 percent (ahead of expectations) to Rs 644.7 crore from Rs 539.8 crore during the same period.

Consolidated earnings before interest, tax, depreciation and amortisation jumped 35.5 percent QoQ to Rs 110.7 crore in the October-December quarter. Operating profit margin went up by 210 basis points quarter-on-quarter to 17.2 percent in the third quarter.

Analysts on an average were expecting net profit of Rs 70 crore on revenues of Rs 602 crore for the quarter. Operating profit or EBITDA was estimated at Rs 100.5 crore.
 
At 14:13 hours IST, shares advanced 3.65 percent to Rs 29.80 on Bombay Stock Exchange on Wednesday.

On Tuesday, the stock had plunged 18 percent after a Network 18 report that exposed the alleged collusion between the CBI prosecutor and Unitech boss Sanjay Chandra in the ongoing investigation into the 2G scam.