Unitech trims most of sharp early losses;closes down over 2%

Trimming most of its sharp early losses, realty firm Unitech today ended over 2 per cent down on BSE due to value buying at lower level.
The stock which crashed by 11.98 per cent to Rs 3.60 in intra-day trade, finally ended at Rs 4, down 2.20 per cent on BSE.
At NSE also, shares of the company saw some recovery and settled at Rs 4, lower by 2.43 per cent.
Volumewise, 328 lakh shares of the company changed hands at BSE and over 14 crore shares were traded at NSE during the day.
Unitech Ltd yesterday reported a consolidated net loss of Rs 16.10 crore for the December quarter on sharp rise in finance cost.

The Gurgaon-based developer had posted a net profit of Rs 43.33 crore in the year-ago period.
Income from operations fell to Rs 408.74 crore in the third quarter of this fiscal as against Rs 706.81 crore in the corresponding period of the previous year, Unitech said in a regulatory filing.
On a standalone basis, the company posted a net profit of Rs 26.74 crore, while total income was Rs 271.12 crore.