Financial results for quarter and year end 31st Mar 2013
Exit from telecom investment has brought about a greater focus on the core business of real estate
Jun 05, 2013
Source : The Times of India

 

GURGAON: Unitech, India’s leading business group involved in large-scale integrated real-estate development and infrastructure projects, today announced its consolidated financial results for the Quarter and Year ended 31st March 2013.

The company recorded a total income of Rs. 933.91 Crores for the Quarter ended 31st March 2013. Profit after tax from ordinary activities for the same period stood at Rs. 133.88 Crores. During the quarter, company made a provision of Rs. 103.52 Crores towards dimunition in value of its investment in wireless business. Net profit for the quarter, therefore, was Rs. 30.33 Crores. For the year ended 31st Mar’13, total income stood at Rs. 2629.30 Crores while the profit after tax from ordinary activities for the same period was Rs. 307.67 Crores. Net profit for FY13 stood at Rs. 209.57 Crores.
The Earning per Share (EPS) for the Year ended 31st March 2013 stood at Rs. 1.20 (before extraordinary items) and Rs. 0.80 (after extraordinary items) on an equity base of Rs. 523.26 Crores. Total paid up capital is represented by 261.63 Crore equity shares of Rs. 2 each.

Company has a healthy balance sheet and its consolidated net debt as of 31st Mar’13 was Rs. 5,642 Crores. Net debt to equity ratio as of 31st Mar’13 was 0.50, one of the lowest in the industry.

Announcing the results, Mr. Sanjay Chandra, Managing Director, Unitech Ltd. said, “These results are clearly a reflection of the continuous ramp up in construction activity at our various project sites during the year. This is the fourth consecutive quarter of sequential growth in revenue, profit before tax and profit after tax. Going forward, our endeavor would be to maintain this momentum in construction activity. Exit from telecom investment has brought about a greater focus on the core business of real estate.”

He added, “Ensuring right balance between launches, sales bookings, construction activity and delivery of finished product is a key strategic priority for the company. Company is aiming at achieving a growth of 15 to 20 percent across all these parameters during the current fiscal. New project launches would be in keeping with our strategy of commencing construction prior to launch.”

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