Auto component maker Hinduja Foundries today reported 54.62 per cent decline in its net profit at Rs 81.11 lakh for the quarter ended September 30, 2010.
The company had posted a net profit of Rs 1.79 crore in the corresponding period last year, Hinduja Foundries said in a statement.
Net sales during the quarter, however, increased by 30.89 per cent to Rs 131.80 crore from Rs 100.70 crore, it added.
Commenting on the company's performance, Hinduja Foundries Managing Director V Mahadevan said that the profitability during the quarter was impacted by temporary suspension of operations of the Hyderabad unit.
"The long term wage agreement at the Hyderabad unit has been signed and the unit resumed normal operations on September 2, 2010," he added.
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