Unitech's Q4 Net loss widens to Rs 539 cr

Realty firm Unitech's consolidated net loss widened to Rs 539.47 crore in the fourth quarter ended March on account of lower income from operations.
The company had reported a net loss of Rs 162.54 crore in the corresponding quarter of 2015.
The company's total income from operations during the January-March quarter stood at Rs 483.55 crore, much lower than Rs 813.23 crore in the year-ago period, it said in a filing to the BSE today.
However, its total expenses also reduced to Rs 987.85 crore during the quarter under review from Rs 1,143.83 in the year-ago period.
The consolidated net debt as on March 31, 2016, was Rs 7,165.70 crore.

"Apart from improving collections, company is also mobilising funds from banks and financial institutions. With these measures, company is hopeful of completing the ongoing projects in the next few quarters in a phased manner," Unitech Ltd Managing Director Sanjay Chandra said.
Shares of the company' closed 1.73 per cent lower at Rs 3.98 on BSE.