India Cements Ltd said Wednesday its fiscal first-quarter net profit fell 22% from a year earlier.
Net profit for the April-June quarter declined to INR1.42bn from INR1.83bn in the same quarter a year earlier. The company didn’t immediately give a reason for the fall in net profit.
Net profit was slightly lower expected. A Dow Jones Newswires poll of eight analysts had forecast net profit of INR1.45bn for the cement producer.
Total revenue rose 18.5% to INR9.87bn from INR8.33bn a year earlier.