J K Lakshmi Cement on Tuesday reported a 78.58 per cent decline in its net profit at Rs 16.81 crore for the quarter ended June 30.
The company had posted a net profit of Rs 78.49 crore in the corresponding period of the last fiscal, J K Lakshmi Cement said in a statement.
The net sales during the first quarter of this fiscal also fell by 7.84 per cent to Rs 323.29 crore from Rs 350.81 crore in the year-ago period, it added.
The National Capital-based company attributed its fall in net profit to increased expenditure due to "steep hike in the fuel prices".
The company's expenditure increased by about 15.48 per cent to Rs 267.33 crore in the quarter, against Rs 231.50 crore in the corresponding period of the previous year.
