Real estate company Unitech Ltd on Thursday posted a net loss of ₹281.29 crore for the first quarter of financial year 2015-16. It had posted a net profit of ₹5.56 crore in the corresponding period last fiscal.
The total income from operations slumped 73 per cent at ₹417.55 crore in the first quarter of financial year 2015-16 against ₹1,524.94 crore in the corresponding period last fiscal.
The consolidated net debt as of June 30, 2015 was ₹6,605 crore, the company said in a statement.
“During the quarter, an overseas entity of the group has sold its entire stake in an IT Park developer to Brookfield which resulted in a capital loss of ₹242 crore and simultaneously another entity of the group acquired shareholding of a SEZ developer from an overseas affiliate of Brookfield,” the statement added.
The company’s share ended 2.92 per cent lower at ₹6.99 at the BSE on Thursday.