New Delhi: Crisis-hit realty firm Unitech today said its net loss widened to ₹72.95 crore for the first quarter ended 30 June. Its net loss stood at ₹16.47 crore in the year-ago period.
The company said in a regulatory filing that its total revenue declined sharply to ₹77.94 crore in the first quarter of this fiscal, compared to ₹289 crore in the corresponding period last year.
During the full fiscal ended 31 March, 2018, the company had suffered a net loss of ₹218.46 crore over total revenue of ₹1,272.35 crore.
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.