Unitech Q1 net rises lower-than-expected 38% to Rs 63 cr
Unitech's consolidated total income increased 40.4 percent on yearly basis (down 32.5 percent Q-o-Q) to Rs 572.6 crore during April-June quarter.
August 06, 2013 / 22:09 IST
Moneycontrol Bureau
Delhi-based real estate major Unitech disappointed the street with first quarter (April-June) earnings performance as its consolidated net profit grew lower-than-expected 37.55 percent year-on-year (doubled sequentially) to Rs 63 crore.Consolidated total income increased 40.4 percent on yearly basis (down 32.5 percent Q-o-Q) to Rs 572.6 crore during April-June quarter.Analysts on an average had expected it to report profit after tax of Rs 80 crore on revenues of Rs 650 crore for the quarter.Also Read - UCP gets bids up to Rs 2,700cr for Gurgaon SEZEarnings before interest, tax, depreciation & amortistion (EBITDA) rose by 37.4 percent Y-o-Y to Rs 75 crore while operating margin slipped 30 basis points year-on-year to 13.1 percent in first quarter, which were also below analysts' forecast of Rs 102 crore on EBITDA and 15.6 percent on margin.Finance cost declined to Rs 5.73 crore from Rs 11.7 crore while other income slipped to Rs 25.10 crore from Rs 34.53 crore Y-o-Y.Unitech achieved sales bookings of 0.67 million square feet at an average realisation of Rs 6,722 per sq ft, according to its filing.It launched projects totalling an aread of 0.32 million square feet during the quarter and delivered 1.05 million square feet of completed area.The stock dropped 5.08 percent to close at Rs 14.95 on the Bombay Stock Exchange. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
