The company had clocked a net profit of Rs 14.06 crore in the same quarter last year, the company said in a BSE filing.
"The quarterly performance saw an impact due to the goods and services tax (GST) transition, rising raw material costs, along with one time exceptional costs," the Mumbai-based company said.
Total income fell marginally to Rs 280.38 crore in the April-June period of the 2017-18 fiscal from Rs 283.01 crore in year-ago.
Expenses remained high at Rs 282.65 crore as against Rs 262.17 crore in the said period.
The company's scrip fell by 2.58 per cent to settle at Rs 574.70 a piece on the BSE today.
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