Unitech reports Rs 791 crore loss in FY19

Crisis-hit Unitech Ltd Friday reported a consolidate net loss of Rs 790.83 crore during the last fiscal. Gurugram-based developer had posted a net loss of Rs 1,263.86 crore in the previous fiscal, the company said in a regulatory filing. Total income declined to Rs 1,371.04 crore during the last fiscal from Rs 1,961.32 crore in the 2017-18. Finance cost increased to Rs 584 crore during the period under the review from Rs 319 crore a year ago. In its footnote, the auditor said that because of the company huge losses and default in repayments to its lenders - these conditions indicate "the existence of material uncertainly that may cast significant doubt about the company's ability to continue as a going concern".