Crisis-hit Unitech records Q2 net loss at Rs 1.30 billion; income dips

Crisis-hit realty firm Unitech on Wednesday reported a net loss of Rs 1.30 billion for the quarter ending September.

Its net loss stood at Rs 59.9 million in the year-ago period, the company said in a regulatory filing.

Total income also fell to Rs 1 billion in the second quarter of this financial year from Rs 1.95 billion in the corresponding period of the previous year.

Unitech is facing a huge crisis as it has defaulted in giving delivery of its housing projects on time to customers. Buyers have approached various courts to seek a refund of their investments.