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Unitech net profit declines 47%

Nov. 10: Real estate firm Unitech today reported a 46.80 per cent fall in consolidated net profit at Rs 49.19 crore for the quarter ended September 30 against Rs 92.46 crore in the same period last year.

Consolidated net income during the second quarter went down 20.54 per cent to Rs 539.83 crore from Rs 679.35 crore in the year-ago period.

As on September 30, Unitech’s consolidated net debt stood at Rs 5,566 crore.

“Net debt to equity ratio as of September 30, 2012, was 0.47, one of the lowest in the industry,” Unitech said in a statement.

The company further said it received sales bookings of 1.55 million sq ft worth Rs 836 crore during the July-September period, up 19.26 per cent from the previous quarter of this fiscal.

Commenting on the numbers, Unitech managing director Sanjay Chandra said: “With improving liquidity and with focused efforts, construction activity at various sites has witnessed marked improvement during the last quarter and should reach the targeted levels soon.”

Demand in real estate continued to be healthy during the quarter, he added.

Srei Infrastructure

Srei Infrastructure Finance Limited has registered a consolidated net profit of Rs 130.20 crore for the September quarter compared with Rs 24.60 crore in the year-ago period.

Total income grew 34 per cent to Rs 788.16 crore during the quarter. Total assets under management increased to Rs 32,505 crore at the end of September 2012 from Rs 26,001 crore last year, registering a growth of 25 per cent.

However, total disbursements during the quarter was Rs 2,347.11 crore, down 47 per cent from Rs 4,401.39 crore in the same period last fiscal.

Hemant Kanoria, chairman and managing director of the company, attributed the growth in bottomline to the focussed approach to infrastructure and close client relationship.

Graphite India

Graphite India posted a 10.9 per cent growth in net profit at Rs 46 crore for the quarter ending September 30.

Net sales, however, was down 11.9 per cent at Rs 407 crore against Rs 462 crore in the same period previous year.

“With demand in global steel markets currently subdued, graphite electrode sales performance has been impacted. However, improved realisations have enabled the decline in the topline to be contained,” the company said in a statement.

Birla Corp

Birla Corporation has posted a net profit of Rs 80.24 crore for September quarter compared with Rs 26.15 crore in the year-ago period on the back of higher cement production and despatches.

Net sales grew 24 per cent to Rs 627.44 crore. The company said that its mining operations continued to be affected by suspension of captive mining at Chanderia.

 
 
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