Real estate player Unitech has registered 37 per cent increase in consolidated net profit at Rs 62.89 crore for the quarter ended June against Rs 45.87 crore in the same period a year ago. Net sales stood at Rs 572.57 crore, registering a 40.42 per cent, against Rs 407.74 crore in the corresponding period of last fiscal.
The company’s finance cost has declined to Rs 5.73 crore from Rs 11.67 crore in the period under review. Sanjay Chandra, Managing Director, said: “Project execution continued to be the key focus area and the company delivered over a million square feet of completed property during the quarter – highest in any quarter during the last two years. The company has a healthy balance sheet with a net debt to equity ratio of 0.52.”
Unitech’s shares fell by 5.08 per cent to Rs 14.95 on the BSE.