Real estate firm Unitech today reported a decline of 50.44 per cent in its

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consolidated net profit at Rs 177.86 crore for the second quarter ended September 30, 2009.

Total income decreased by 48.29 per cent to Rs 509.49 crore in the quarter under review from that in the same period last fiscal, Unitech said in a statement.

The company said it had reduced its debt by Rs 2,397 crore during the first half of the current fiscal. Its total loan outstanding as of September 30 was Rs 6,659 crore.

The company had Rs 740 crore in cash and bank balance as of September 30, it said.