Unitech Announces De-growth of 44% in 2009-2010

Unitech Announces De-growth of 44% in 2009-2010

Witnessing a de-growth of 43.63%, Unitech has announced its financial year 2009-10 results, wherein the reported consolidated net profit was at Rs. 675.1 crore. Last year the Company had recorded a profit of Rs. 1,197.7 crore.

Further, the consolidated net sales of the Company increased sparsely by just 1.44% to Rs. 2,931.3 crore. Last year the figure stood at Rs. 2,889.7 crore.

Reports claim that the Company's trailing 12-month EPS stood at Rs. 1.65 per share till the December quarter results of 2009. Also the stock's price-to-earnings (P/E) ratio was recorded at 44.45.

In terms of the book value of shares, the Company stands at Rs. 12.39 per share. Further at current value, the price-to-book value of the shares of the Company was 5.92.

The dividend yield of the Company was recorded at 0.14%.

Unitech, which is the country’s second-largest property developer, said that the March quarter net profit of the Company augmented 44 times to Rs. 144.87 crore. In the corresponding quarter last year the figures stood at Rs. 3.29 crore.

Commenting on the results, Unitech’s Managing Director Sanjay Chandra said, "In the financial year 2009-10, the company made an impressive progress in terms of new project launches and sales bookings. The revival in the real estate market, coupled with the company’s attractive product range, helped it to achieve an all time high sales booking of over Rs 7,000 crore".

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