Unitech shares climb nearly 11 pc as Q3 profit rises

Stocks of realty firm Unitech today soared nearly 11 per cent after the company reported a 32 per cent per cent increase in consolidated net profit for the quarter ended December 2014.
The stock surged 10.18 per cent to settle at Rs 18.40 on the BSE. During the day, it gained 14 per cent to Rs 19.05.
At the NSE, the scrip jumped 10.78 per cent to end the day at Rs 18.50.
Unitech had on Friday reported a 32 per cent per cent increase in consolidated net profit at Rs 43.33 crore for the quarter ended December 2014 due to lower operational expenses and interest outgo.

Its net profit stood at Rs 32.82 crore in the year-ago period.
Income from operations, however, declined to Rs 704.56 crore in the third quarter of this fiscal from Rs 731.67 crore in the corresponding period of the previous year, Unitech had said in a statement.
Total expenditure fell to Rs 661 crore from Rs 716 crore during the period under review.