Unitech shares plunge 5% as Q4 net loss widens

Unitech's consolidated net loss widened to Rs 539.47 crore in fourth quarter ended March on account of lower income from operations

Shares of realty firm Unitech fell by 5% on Tuesday after the company's consolidated net loss widened to Rs 539.47 crore in the fourth quarter ended March.

The stock dipped 4.27% to Rs 3.81 on BSE.

On NSE, it slipped 5% to Rs 3.80.

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 2014-15.

Its total income from operations during January-March quarter stood at Rs 483.55 crore, much lower than Rs 813.23 crore in the year-ago period, the company had said in a BSE filing on Monday.

However, its total expenses reduced to Rs 987.85 crore during the quarter under review as against Rs 1,143.83 in the year-ago period.

Consolidated net debt as on March 31, 2016 was Rs 7,165.70 crore.