Sagar Cements today reported a 41.62 per cent decline in its net profit to Rs 5.82 crore for the first quarter of the current fiscal.
The company had posted a net profit of Rs 9.97 crore during the April-June quarter of the previous fiscal.
Its total income for the June quarter of 2018-19 was down 8.38 per cent to Rs 275.44 crore as compared to Rs 300.65 crore in the year-ago period, the bank said in a regulatory filing.
"Our Waste heat recovery plant remained shut down for a brief period from 9th June to 30th June, to enable its upgradation from 6 MW capacity to 8.8 MW capacity. But for this, our profitability would have been still better," Sagar Cements Executive Director Sreekanth Reddy said.
Shares of Sagar Cements today settled at Rs 785.85 on the BSE, down 0.50 per cent from the previous close.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)