New Delhi: India Cements on Monday reported a 39 percent drop in net profit for the April-June quarter at Rs 62.07 crore notwithstanding around 14 percent growth in income over the corresponding quarter last fiscal.
The Chennai-based cement manufacturer had reported Rs 102.03 crore net profit during the June quarter of the last fiscal, it said in a BSE filing.
India Cements' total income, which also includes revenue from Indian Premier League (IPL) franchise, Chennai Super Kings, rose to Rs 1,205.03 crore from Rs 1,061.19 crore in the year-ago period.
Total expenses of the company increased to Rs 992.81 crore during the first quarter ended June 30, from Rs 877.01 crore during the same quarter a year ago, mainly due to higher fuel consumption and transportation costs.
The company also incurred a Rs 25.02-crore exchange loss during the reporting quarter.
Shares of company closed at Rs 85.15 apiece on Monday, down 0.47 percent over their previous closing on BSE.