The Hindu Business Line : Unitech Q4 net up at Rs 35 cr

Real estate company, Unitech Ltd, has reported a 450 per cent increase in its net profit at Rs 35.46 crore during the quarter ended March 31, compared to Rs 6.45 crore during the same quarter the previous year.

The company recorded a 69 per cent increase in its total income at Rs 220.47 crore during the quarter ended March 31, compared to Rs 130.23 crore during the corresponding period last year.

For the year ended March 31, the company reported a 152 per cent rise in its net profit to Rs 87.65 crore (Rs 34.8 crore).

The company's board has recommended a 10 per cent dividend on expanded share capital, translating into Rs 0.2 per share for every Rs 2 paid up capital. The company has also announced a bonus issue of 12 shares for every existing share. Unitech would be investing Rs 650 crore towards construction of three hotels and a service apartment, for which it has entered into an agreement with Marriott Courtyard.

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