India Cements' total income, which also includes revenue from IPL franchise, Chennai Super Kings, rose to Rs1,205.03 crore from Rs1,061.19 crore during the June quarter
New Delhi: India Cements on Monday reported a 39% drop in net profit for the April-June quarter at Rs62.07 crore notwithstanding around 14% growth in income over the corresponding quarter last fiscal, reports PTI.
The Chennai-based cement manufacturer had reported Rs102.03 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 Rs1,205.03 crore from Rs1,061.19 crore in the year-ago period.
Total expenses of the company increased to Rs992.81 crore during the first quarter ended 30th June, from Rs877.01 crore during the same quarter a year ago, mainly due to higher fuel consumption and transportation costs.
The company also incurred a Rs25.02-crore exchange loss during the reporting quarter.
Shares of company closed at Rs85.15 a piece down 0.5% over its previous closing on BSE.