Unitech Q1 net jumps 8 times to Rs 74 crore

Mumbai, Aug 1 (UNI) Unitech Limited has posted a net profit of Rs 74.0 crore for the quarter ended June 30, 2006, as compared with Rs 8.24 crore for the same quarter last fiscal, recording a jump of 798.05 per cent.

Announcing the results, the company said its total income rose by 28.36 per cent to Rs 306.21 crore for the quarter ended June 30, 2006, from Rs 143.26 crore for Q1 FY-05. Net sales grew to Rs 267.76 crore, as compared with Rs 141.76 crore.

The company has earned Rs 30.01 crore as income from the sale of investments, which has primarly boosted the bottomline of the company in the current quarter.

Revenue from the real estate division was Rs 203.61 crore, as compared to the earlier Rs 106.55 crore. The construction division's revenues stood at Rs 58.23 crore, as against Rs 3.51 crore in the comparable quarter last year.

The authorised share capital of the company has been increased from Rs 35 crore to Rs 210 crore and the equity shares of the company have been sub-divided from one share of Rs 10 to five shares of Rs 2 each.

Further, the paid-up capital of the company has been increased from Rs 12,48,75,000 to Rs 1,62,33,75,000, through the issue of bonus shares of Rs 1,49,85,000.

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