Unitech Q1 Results: Reports Net Loss Of Rs 1,206 Crore

Unitech Ltd. on Thursday reported a net loss for the first quarter of this financial year.

The company recorded a net loss of Rs 1,206 crore for the quarter-ended June, according to its stock exchange notification. This compares to a net loss of Rs 702.97 crore in the year-ago period.

Total income declined to Rs 84.04 crore in the quarter-ended June from Rs 91.09 crore in the corresponding period of the previous year.

On Jan. 20, 2020, the Supreme Court directed that the Board of Directors of Unitech, as existing on that date, be superseded with immediate effect in order to facilitate the taking over of management by the new board constituted in terms of the proposal submitted by the central government.

(With inputs from PTI)