Unitech tumbles on poor Q2 results

Unitech fell 5.70% to Rs 19.85 at 11:50 IST on BSE after the company reported net loss of Rs 14.70 crore in Q2 September 2014 as against net profit of Rs 25.57 crore in Q2 September 2013.

The result was announced after market hours on Wednesday, 12 November 2014.

Meanwhile, the BSE Sensex was up 7 points, or 0.02%, to 28,015.90.

On BSE, so far 44.88 lakh shares were traded in the counter, compared with an average volume of 81.88 lakh shares in the past one quarter.

The stock hit a high of Rs 20.40 and a low of Rs 19.60 so far during the day. The stock hit a 52-week high of Rs 38.60 on 9 June 2014. The stock hit a 52-week low of Rs 10.86 on 4 March 2014.

The stock had outperformed the market over the past one month till 12 November 2014, rising 9.35% compared with 6.51% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 19.81% as against Sensex's 8.22% rise.

The mid-cap real estate developer has an equity capital of Rs 523.26 crore. Face value per share is Rs 2.

Unitech's net sales declined 35.59% to Rs 383.73 crore in Q2 September 2014 over Q2 September 2013.

The company's consolidated net debt as on 30 September 2014 was Rs 6381 crore. Net debt to equity ratio as of 30 September 2014 was 0.58.

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. So far Unitech has built more than 100 residential projects.

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