Unitech net falls 60 per cent to 42 crore

NEW DELHI: Unitech reported a 59.29% drop in consolidated net profit to 41.60 crore for the quarter-ended June 30, from 102.21 crore a year ago.

Net income was down 33.75% to 407.7 crore from 615.46 crore a year ago. The company reduced its consolidated net debt by 325 crore in the financial year 2012 to 5,399 crore.

"Company's focus continues to be on ramping up construction activity and it is taking several measures to this end. A lot of emphasis is also being laid on improving various processes to drive efficiencies and reduce costs," said MD Ajay Chandra.