Diversified business group Videocon Industries today reported 26.95 per cent decline in net profit for the quarter ended September 30,2011,at Rs 116.82 crore due to higher expenses and interest charges.
The company had posted a net profit of Rs 159.92 crore in the corresponding period last year,Videocon Industries said in a filing to the BSE.
The sales during the quarter,however,increased by 11.84 per cent to Rs 3,338.93 crore from Rs 2,985.46 crore,it added.
The company said its total expenses in the July-September quarter went up to Rs 2,914.09 crore from Rs 2,595.25 crore in the same period last fiscal.
The interest charges also increased to Rs 261.09 crore from Rs 177.87 crore,it added.