Unitech shares tumble nearly 6% as Q2 earnings disappoint

Shares of realty firm Unitech today fell by nearly 6 per cent after it reported Rs 14.69 crore loss for the second quarter of this fiscal.
Unitech's scrip ended the day 5.46 per cent lower at Rs 19.90 on the BSE. During the day, it had tumbled 6.88 per cent to Rs 19.60.
On the NSE, the stock plunged 5.70 per cent to settle at Rs 19.85.
Following the dip in the stock, the company's market value fell by Rs 303.93 crore to Rs 5,203.07 crore.
Unitech had posted net profit of Rs 25.57 crore in the year-ago period, the Gurgaon-based firm had said in a filing to the BSE yesterday.

Net sales declined by 36 per cent to Rs 383.72 crore in the July-September quarter of this fiscal from Rs 595.75 crore in the corresponding period of last fiscal.
Total income fell to Rs 405.80 crore for the quarter ended September from Rs 633.41 crore in the year-ago period.