Tata Sponge Iron today said its standalone net profit fell by 75 per cent to Rs 5.69 crore for the second quarter ended September 30, 2015.
The firm had clocked a net profit of Rs 22.53 crore in the year-ago period, it said in a BSE filing.
Total standalone income of the firm declined by 28 per cent to Rs 152.31 crore in July-September quarter this fiscal from Rs 211.13 crore in the same quarter of 2014-15.
The firm's total expenses were lower at Rs 154.30 crore from Rs 189.18 crore during the quarter under review.
Tata Sponge Iron, an associate company of Tata Steel, has a manufacturing facility at Bilaipada in Keonjhar District of Orissa. Its total production capacity is 3,90,000 tonnes per annum from 3 kilns. The firm is self sufficient in power with captive power plants producing 26 MW of power from 2 plants.
Shares of the company today fell by 1.59 per cent to close at Rs 511.25 a piece at the BSE.
