JSL Stainless today reported a 12.5% dip in the net profit at Rs 85.7 crore for the quarter ended June 30, on the back of higher raw material cost and increased interest payments.
The company had posted a net profit of Rs 98 crore in the April-June quarter in FY10, the company said in a filing to the Bombay Stock Exchange (BSE).
However, the net sales of the company in the first quarter of the current financial year increased to Rs 1,972.9 crore, over Rs 1,625 crore during the same period in 2010-11, the statement said.
Shares of the company settled at Rs 91.10, down 0.11% on the BSE.
