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Crisis-hit realty firm Unitech today reported a consolidated net loss of Rs 999.83 crore for the quarter ended March 31, 2018, despite higher income. The Gurugram-based developer had posted a net loss of Rs 290.19 crore in the year-ago period, according to a regulatory filing.
The total income, however, jumped over two-fold to Rs 977.59 crore during January-March 2017-18, from Rs 480.36 crore in the year-ago quarter. Despite a sharp rise in income, the company has posted net loss due to a higher operational expenditure and an exceptional item of Rs 928 crore.
For the entire 2017-18, Unitech posted a net loss of Rs 1,275.07 crore as against a loss of Rs 402.66 crore in 2016-17. The total income, however, increased to Rs 2,210.19 crore from Rs 1,795.25 crore in 2016-17.
Debt-ridden Unitech is facing a huge protest as well as litigation from home buyers because of significant delays in completion of their housing projects across the country.
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