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Asahi India Glass (known as AIS) posted a 73 per cent drop in its consolidated net profit to Rs 2.57 crore for the quarter ending March 31, 2010.
Consolidated net sales for the three-month period rose 27 per cent to Rs 429.77 crore.
However, for the full year 2010-11, consolidated net profit rose more than eight times to Rs 16.77 crore. Net sales in the year rose 20 per cent to Rs 1,557.73 crore.
“Higher than expected input inflation during the year, has progressively squeezed our margins. Inflation and its resultant impact on the production and consumption cycles remain a cause of constant concern for us,” said Mr Sanjay Labroo, MD & CEO, AIS.
He added that the company is also in the process of launching several new “high performance and value-added” products offering enhanced energy conservation and aesthetics.
AIS shares on the BSE fell 5.07 per cent at Rs 88 on Tuesday.
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