 "Unitech's net loss widens to Rs 162 cr in Q4")
Losses at real estate developer Unitech widened to Rs 162.5 crore for the quarter ended 31 March, 2015 as compared to Rs 51.5 crore in the corresponding quarter of the previous fiscal.
The company's total income went down marginally at Rs 1,057.8 crore in Q4 as compared to Rs 1,075.2 crore in the corresponding quarter of FY14.
For the full 2014-15 fiscal, the net loss stood at Rs 128.33 crore against a net profit of Rs 69.74 crore in the previous year.
Unitech MD Sanjay Chandra said: "The slowdown in the real estate sector has prolonged more than expected. Though green shoots of recovery can be seen in some segments and in certain pockets of the country, a more widespread and sustained recovery is yet to take hold of the sector."
The company is concentrating on completing existing projects, he added.