Unitech Ltd shares tanked as much as 12 per cent intraday on Friday after the company reported consolidated net loss of Rs 16.11 crore for the quarter ended December 2015 against net profit of Rs 43.34 crore in the corresponding quarter a year ago.
At 12.19 pm, shares of the realty firm were trading 9.29 per cent down at Rs 3.71. The scrip opened at Rs 4.20 and had touched a high and low of Rs 4.27 and Rs 3.60, respectively, in trade so far. Later, the scrip settled the day 2.20 per cent down at Rs 4.
Net sales of Unitech fell 42.17 per cent year-on-year to Rs 408.75 crore in October-December 2015 against Rs 706.81 crore in the same quarter last year.
On a standalone basis, the company posted net profit of Rs 26.74 crore against net loss of Rs 16.39 crore in the corresponding quarter last year.