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Unitech Profit Up To Rs 43 Cr

Updated: March 21, 2015 2:59 pm

Real estate firm Unitech has posted a 32 per cent year-on-year increase in its consolidated net profit to Rs 43 crore for the quarter ended December, owing to lower operational expenses and interest outgo. The total expenditure declined year-on-year by eight per cent to Rs 661 crore and finance costs declined by 74 per cent to Rs 7 crore in the quarter. In the same quarter previous year, Unitech had recorded a net profit of Rs 33 crore. Unitech MD Sanjay Chandra said, “Demand for residential space continues to be sluggish and it may take a few more quarters for the demand to revive. The company has been taking measures over the last few quarters to deal with this challenging environment and these have begun to bear fruit.”

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