Shares of Unitech Ltd moved both ways early Thursday as net loss of the crisis-hit realty firm widened.
On Wednesday, it informed bourses that its net loss swelled to Rs 72.95 crore for the first quarter to June.The scrip was in the red in the beginning today, but swung to positive territory before trading steady.The companys net loss stood at Rs 16.47 crore in the same quarter last year.
Total revenue declined sharply 73 per cent YoY to Rs 77.94 crore in Q1 FY19 over Rs 289 crore in the same period last year.
Gurgaon-based developer is in a deep crisis as both of its managing directors - Sanjay and Ajay Chandra -- are in jail due to defaults in delivery of real estate projects.The Supreme Court recently said the unencumbered assets of the company's directors can be sold to refund money to hassled homebuyers.