Shares of realty firm Unitech today dropped by over 5% in morning trade on the BSE, hit by a dip in net profit for the third quarter ended December 31, 2010.
Yesterday, Unitech had reported a 36.73% decline in consolidated net profit for the quarter ended December 31, at Rs 111.36 crore due to losses incurred by disposal of a capital asset.
The scrips tumbled by 5.66% in early session on the Bombay Stock Exchange (BSE) to touch a low of Rs 34.15.
Profit booking dragged down shares of Unitech on the National Stock Exchange (NSE) as well, where it tumbled by 5.93% to a low of Rs 34.10.
On the volume front, over 3 crore shares of the company were traded on the two bourses during the early trade.
Barring yesterday's gain of 3.87%, the shares had been on a downward spiral by shedding over 21% on the BSE for the last four trading sessions.
Meanwhile, the BSE 30-share barometer Sensex was trading lower by 132.19 points at 18,070.01 at 10:35 hrs.
