NEW DELHI: Realty company Unitech Ltd has narrowed its consolidated net loss to ₹738.72 crore for the most recent September quarter. This is a decrease from a net loss of ₹766.76 crore in the same quarter last year.
Total revenue rose to ₹151.01 crore in the second quarter of this fiscal year, up from ₹79.94 crore during the previous year, as per a regulatory announcement.
In 2020, the company’s board was superseded by the central government following a directive from the Supreme Court.
Following this, the Ministry of Corporate Affairs proposed a new board’s formation, which received Supreme Court approval on January 20, 2020.
Unitech Ltd is currently facing a severe cash crunch, leading to substantial delays in the completion of its housing projects, mainly in the Delhi-NCR region.
