The net profit stood at Rs 56.95 crore in the same period last fiscal.
The Gujarat government-promoted firm posted sales turnover of Rs 472.56 crore for the quarter as against Rs 493.91 crore in the corresponding period last year, the company said in a statement.
The profit before tax of the first quarter stands at Rs 56.51 crore as against Rs 73.54 crore in the corresponding period of the previous year.
Though the company could improve production levels, it faced market conditions affecting the realisations for its products during the June quarter, the release said.
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