Unitech Q1 net falls 53% to Rs 45.88 cr

Real estate major Unitech on Tuesday reported a 53 per cent decline in its consolidated net profit at Rs 45.88 crore for the quarter ended June 30, on lower sales.

The company had posted a net profit of Rs 98.36 crore in the year-ago period.

Total income fell by 36 per cent at Rs 442.28 crore in the first quarter of this fiscal as against Rs 686.83 crore in the corresponding period of last year, Unitech said in a filing to the BSE.

The Board of Directors did not recommended any dividend for the financial year 2011-2012.