Uttam Galva Steels today reported a 38 per cent decline in net profit at Rs 6.32 crore for the first quarter ended June 30, 2013, due to lower sales.
The company had clocked Rs 10.24 crore net profit in the April-June quarter of last fiscal, it said in a BSE filing.
Total operating revenue of Uttam Galva Steels fell to Rs 1,336.76 crore during the quarter from Rs 2,057.72 crore a year earlier.
Meanwhile, interest out of the company decreased to Rs 51.37 crore from Rs 81.43 crore a year ago, it said.
Total expenditure also fell to Rs 1,280.22 crore from Rs 1,954.46 crore during the April—June period of the last fiscal.