Unitech has reported a rise in net profit to Rs 30.33 crore for the quarter ended March 31, 2013, compared with Rs 2.26 crore in the corresponding period last year.
Total income from operations stood at Rs 848.25 crore for March 31, 2013, against Rs 716.29 crore for the same period a year ago.
During the quarter the company made a provision of Rs 103.52 crore towards diminution in value of its investment in the wireless business. For the year ended March 31, 2013, the total income stood at Rs 2629.30 crore crore. Net profit was Rs 209.57 crore for year ending March 31, 2013, 11 per cent less than the Rs 237.38 crore recorded in the previous fiscal.
The company said its consolidated net debt was at Rs 5,642 crore as on March 31, 2013.
Unitech Ltd has informed the BSE that its board of directors, at its meeting held today, inter alia , has not recommended any dividend for 2012-2013.
Sanjay Chandra, MD, Unitech Ltd said: “This is the fourth consecutive quarter of sequential growth in revenue, profit before tax and profit after tax. Exit from telecom investment has brought about greater focus on the core business of real estate”.
“Ensuring the right balance between launches and sales bookings, construction activities and delivery of finished product is a key strategic priority. The company is aiming at achieving a growth of 15-20 per cent across all these parameters during the current fiscal. New project launches would be keeping with our strategy of commencing construction prior to launch”.