{"id":82292,"date":"2018-06-12T13:46:04","date_gmt":"2018-06-12T13:46:04","guid":{"rendered":"http:\/\/www.bnreport.com\/unitech-tanks-over-6-as-q4-loss-swells\/"},"modified":"2018-06-12T13:46:04","modified_gmt":"2018-06-12T13:46:04","slug":"unitech-tanks-over-6-as-q4-loss-swells","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/unitech-tanks-over-6-as-q4-loss-swells\/","title":{"rendered":"Unitech tanks over 6% as Q4 loss swells"},"content":{"rendered":"

Unitech<\/a> plunged over 6 per cent today after net loss of the beleaguered realty developer widened. <\/p>\n

The figure rose to Rs 999.84 crore in Q4 FY18, from Rs 290.19 crore in the same quarter last year. <\/p>\n

The scrip was down 6.17 per cent at Rs 4.87 around 3 pm. The BSE Sensex<\/a> jumped 175 points, or 0.49 per cent, to 35,658. <\/p>\n

Total income jumped over two fold to Rs 977.59 crore during January-March, from Rs 480.36 crore in the year-ago quarter. <\/p>\n

Despite a sharp rise in income, the company has suffered net loss due to higher operational expenditure and an exceptional item of Rs 928 crore. <\/p>\n

For the entire 2017-18, net loss came in at Rs 1,275.07 crore against Rs 402.66 crore in 2016-17. Total income, however, increased to Rs 2,210.19 crore, from Rs 1,795.25 crore in 2016-17. <\/p>\n

Debt-ridden Unitech is facing huge protest as well as litigations from homebuyers because of significant delay in completion of their housing projects across the country. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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