Unitech net profit rises 44 times

Unitech net profit rises 44 timesThe second-largest property developer of the country Unitech has declared its fourth quarter financial results for the fiscal year 2009-10 and it has managed to post a huge rise in its net profit.

The company has posted a net profit of Rs 144.87 crore for the quarter that ended in 31st March, 2010.

The net profit was reported to be Rs 3.29 crore for the same quarter in the financial year 2008-09. This net profit figure has grown up by a mammoth 44 times in this quarter as compared to the same quarter in the last fiscal.

There has been a hike of 50% in the total income of the firm this year against last year.

So far as total income the of the firm is concerned, it has touched Rs 675.84 crore during the January-March period of fiscal year 2009-10. It was reported to Rs 449.29 crore for the like period last year.

The total income has gone up for the company as there has been a surge in demand for home sales.