Electrical and communication cables maker Finolex Cables today posted a 11.79% decline in its net profit of Rs 20.2 crore for the first quarter ended June 30.
The company had posted a net profit of Rs 22.9 crore in the year-ago period, Finolex Cables said in a filing to the Bombay Stock Exchange (BSE).
During the reporting period, the firm's net sales stood at Rs 45.10 crore, a 7.33% decline from Rs 48.67 crore posted in the same period last year.
Shares of Finolex Cables closed at Rs 41 on the BSE, down by 2% from the previous close.