Net profit of the company has dropped by 66.37 % on yearly basis to Rs 28.91 crore against Rs 85.7 crore of Q3FY13 as its finance has shot up by 234 % YoY to Rs 28.9 crore against Rs 8.4 crore of corresponding quarter of last year
Unitech , a realty firm, announced its quarterly result for the year ending December 31, 2013. The company’s total operating revenue recorded a 13% growth on yearly basis to Rs 731.67 crore against Rs 644.71 crore of corresponding quarter of last year.Real estate and related segment, which attributes 75 % of total operating revenue, showed a growth of 9 % on yearly basis to Rs 516.61 crore against Rs 512.86 crore of Q3FY13. Transmission tower segment that accounts for 13 % of the total operating revenue recorded a growth of 51 % to Rs 100.6 crore as compared to Rs 66.4 crore of corresponding quarter of the previous year.The EBITDA of the company fell sharply by 74.8 % YoY to Rs 27.86 crore in Q3FY14 against Rs 110.7 crore in Q3F13. Construction expenses, employee expenses, and raw material are the primary reasons for a decrease in EBITDA. Construction expenses, which constitutes 66 % of total revenue shot up by 35 % during the year to Rs 484.2 crore as compared to Rs 359.6 crore of Q3FY13.The cost of raw material, 10 % of total revenue, went up by 18 % YoY to Rs 65. 6 crore against Rs 56 crore of corresponding quarter of previous year. Employee expenses have recorded a growth of 13% to Rs 51.4 crore against Rs 45.38 crore of Q3FY13.Net profit of the company has dropped by 66.37 % on yearly basis to Rs 28.91 crore against Rs 85.7 crore of Q3FY13 as its finance has shot up by 234 % YoY to Rs 28.9 crore against Rs 8.4 crore of corresponding quarter of last year.Currently its share price is trading at Rs12.66 with a marginal increase of 0.64 % over previous close. In last one year the company has given a negative return of 57.23 %. Since real estate industry is going through a lull and tight monetary policy has worsened the situation, we don’t see much improvement in the company’s performance in the next quarter and advise you to stay away from the stock.
