Moneycontrol
Last Updated : Aug 29, 2018 09:46 PM IST | Source: PTI

Unitech Q1 net loss widens to Rs 73 cr

The company said in a regulatory filing that its total revenue declined sharply to Rs 77.94 crore in the first quarter of this fiscal, compared to Rs 289 crore in the corresponding period last year.

 
 
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Crisis-hit realty firm Unitech today said its net loss widened to Rs 72.95 crore for the first quarter ended June 30. Its net loss stood at Rs 16.47 crore in the year-ago period.

The company said in a regulatory filing that its total revenue declined sharply to Rs 77.94 crore in the first quarter of this fiscal, compared to Rs 289 crore in the corresponding period last year.

During the full fiscal ended March 31, 2018, the company had suffered a net loss of Rs 218.46 crore over total revenue of Rs 1,272.35 crore.

Gurgaon-based developer is in a deep crisis as both of its managing directors - Sanjay and Ajay Chandra -- are in jail due to defaults in delivery of real estate projects.

The Supreme Court recently said the unencumbered assets of the company's directors can be sold to refund money to hassled homebuyers.
First Published on Aug 29, 2018 09:38 pm
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