Consolidated net profit went down by 41.3 per cent to Rs 7.1 crore in the first quarter of the current fiscal year compared to Rs 12.1 crore in the same quarter of the previous fiscal. During the corresponding quarter of the previous year, there was an exceptional profit arising from the sale of shares in the Bombay Stock Exchange.
The fall in PBT after adjusting for the exceptional item is therefore only 22.6 per cent. The company has also provided Rs.3.3 crores for income tax for the first quarter of the fiscal year 2008-09.
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