Unitech slips after reporting disappointing Q2 results

Unitech dropped 2.54% to Rs 4.61 at 12:00 IST on BSE after the company reported consolidated net loss of Rs 13 crore in Q2 September 2016 compared with consolidated net loss of Rs 65.70 crore in Q2 September 2015.

The result was announced after market hours yesterday, 14 December 2016.

Meanwhile, the BSE Sensex was down 69.91 points, or 0.26%, to 26,530.78.

On the BSE, 20.41 lakh shares were traded in the counter so far, compared with an average volume of 38.07 crore shares in the past one quarter. The stock had hit a high of Rs 4.74 and a low of Rs 4.57 so far during the day. The stock had hit a 52-week low of Rs 3.43 on 11 February 2016. The stock had hit a 52-week high of Rs 9.05 on 18 July 2016.

The stock had underperformed the market over the past one month till 14 December 2016, falling 9.21% compared with the Sensex's 0.81% fall. The scrip had also underperformed the market in past one quarter, declining 22.33% as against the Sensex's 6.24% fall.

The small-cap company has an equity capital of Rs 523.26 crore. Face value per share is Rs 2.

Unitech's total income dropped 42.27% to Rs 385.94 crore in Q2 September 2016 over Q2 September 2015.

Unitech is one of India's leading real estate player. It has a diversified product mix in real estate comprising of commercial complexes, IT/ITes parks, special economic zones (SEZs), integrated residential developments, schools, hotels, malls, golf courses and amusement parks.

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