Textile maker KPR Mills posted a 27 per cent dip in its net profit for the first quarter of FY09, due to higher interest and depreciation charges. The company recorded interest and depreciation expences of Rs 25 crore in the first quarter of FY09 as compared to Rs 17.94 crore in the first quarter of FY08.
However, the company posted 26.4 per cent in its total revenues at Rs 168 crore in the June quarter of FY09 as compared to Rs 133 crore in the same quarter last financial year.
The company has invested Rs 544 crore in the fourth quarter of FY08 and is investing Rs 121.9 crore as part of second phase of expansion plans.
The company stock ended the day at Rs 90.50, nearly 2.84 per cent lower than Thursday's close.