Unitech Q3 net profit seen up 43% QoQ to Rs 70 cr

Moneycontrol Bureau 

Realty firm Unitech, which is in the eye of a fresh storm relating to the 2G scam investigation, is expected to report third quarter revenues of Rs 602 crore, compared with Rs 539.8 crore in the second quarter. Operating profit or EBITDA is estimated at Rs 100.5 crore, versus Rs 81.7 crore in the preceding quarter. Quarterly net profit is seen at Rs 70 crore versus Rs 49.1 crore. 

According to the poll, revenue booking is expected to improve slightly, but year-on-year profit growth will be flat as there were no major launches last quarter. Analysts see no major concerns on refinancing of its Rs 1500 crore FY13 repayment obligation. However, execution of projects will be key to revenue and profit growth, analysts say. 

The stock had plunged 18 percent on Tuesday 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.