Unitech Q2 net loss widens to Rs. 149.23 crore

Real estate firm Unitech said its consolidated net loss widened to Rs 149.23 crore for the second quarter ended September. The company had reported a net loss of Rs 54.39 crore for the same period of the previous fiscal. Revenue from operations declined to Rs 240.75 crore during the second quarter, as compared with Rs 487.87 crore in the same period of previous fiscal, Unitech said in a regulatory filing. The company's board has appointed Dilip Kumar Malhotra as an additional non executive independent director with effect from November 14 for a term of five years. The Supreme Court has several times refused to grant bail to the promoters, Sanjay Chandra and Ajay Chandra, and has also directed the company to deposit Rs 750 crore in its registry by December end for giving refunds to the aggrieved home buyers.