Unitech lost 1.25% to Rs 23.65 at 14:18 IST on BSE after consolidated profit after tax from ordinary activities galloped 3981.71% to Rs 133.88 crore on 21.18% growth in total income to Rs 933.91 crore in Q4 March 2013 over Q4 March 2012.
The Q4 result was announced after market hours on Thursday, 30 May 2013.
Meanwhile, the S&P BSE Sensex was down 368.38 points or 1.82% at 19,847.02.
On BSE, 62.66 lakh shares were traded in the counter as against average daily volume of 53.15 lakh shares in the past two weeks.
The stock hit a high of Rs 24.95 and a low of Rs 23.30 so far during the day.
Unitech's consolidated profit before tax (PBT) jumped 254.87% to Rs 180.13 crore in Q4 March 2013 over Q4 March 2012. During the quarter (Q4 March 2013), the company made a provision of Rs 103.52 crore towards dimunition in value of its investment in wireless business. Net profit for the quarter, therefore, was Rs 30.33 crore, Unitech said.
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Unitech's consolidated net profit from ordinary activities rose 24.96% to Rs 307.67 crore on 0.02% decline in total income to Rs 2629.30 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).
Unitech achieved sales bookings of 5.48 million square feet (msf) valued at Rs 2807 crore in FY 2013 of which residential sales bookings stood at 5.03 msf valued at Rs 2231 crore. The company launched projects totaling an area of 3.98 msf and delivered 3.20 msf of completed area during FY 2013.
Unitech said it has a healthy balance sheet and its consolidated net debt as of 31 March 2013 was Rs 5642 crore. Net debt to equity ratio as of 31 March 2013 was 0.50, one of the lowest in the industry, the company added.
Mr. Sanjay Chandra, MD, Unitech said, "Theses 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 a greater focus on the core business of real estate".
Mr. Chandra further said, "Ensuring right balance between launches, sales bookings, construction activity and delivery of finished product is a key strategic priority for the company. The company is aiming at achieving a growth of 15-20% across all these parameters during the current fiscal. New project launches would be in keeping with our strategy of commencing construction prior to launch".
A real estate developer, Unitech, offers a diversified product mix comprising residential, commercial/IT parks, retail, hotels, amusement parks and SEZs.
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