Unitech Q4 net loss widens to `1,000 crore

Crisis-hit real estate firm Unitech on Tuesday reported a consolidated net loss of Rs 999.83 crore for the quarter ended March 31, 2018, despite earning a 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.

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 sharp rise in income, the company has posted net loss due to higher operational expenditure and an exceptional item of Rs 928 crore.

For 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.

Total income however increased to Rs 2,210.19 crore from Rs 1,795.25 crore in 2016-17.