Real estate major Unitech has reported a profit of Rs 423 crore for the quarter ended June 30, 2008, up 16 per cent from the profit of Rs 366 crore in the corresponding period last year.
The company's revenue has also gone up by 17 per cent to Rs 1,054 crore from Rs 890 crore.
Unitech MD Sanjay Chandra has attributed end-user demand as the reason for strong growth of the company during the just ended quarter. "The speculators have waned away from the market. The transactions happening on Wednesday are in the name of end-user, which is driving growth for the sector," he said.