India`s leading real estate company, Unitech, which is also into construction of retail malls besides IT Parks and other major building projects registered a substantial rise of 37.97 per cent in net profit for the quarter ended September 2007.
This was helped by 1,087 basis points increase in operating margin together with strong other income and sales growth. During the quarter, the company saw a rise in net profit to Rs 1,380.90 million, from Rs 1,000.90 million in the same quarter of the previous year.
On the other hand, earnings per share for the quarter fell 30.89 per cent to Rs 0.85 compared with the same quarter previous year, as the company has increased the paid-up equity share capital from Rs 1,623,375,000 to Rs 3,246,750,000 by way of issue of bonus shares in the ratio of 1:1 in the quarter ended September 2007.
Net sales for the quarter climbed 37.63 per cent to Rs 5,295.40 million, while total income for the quarter jumped 45.81 per cent to Rs 5,726 million, when compared with the corresponding quarter, a year ago.