Finolex Industries has informed that there has been drop in its net profit in the first quarter of the current fiscal. It has reported its financial results for Q1 of 2010-11 financial years. Finolex Industries has diversified its business to power, communications, petrochemicals and agriculture business and one of the leading player in the market.

Finolex Industries has managed to post a net profit of Rs 15.91 crore for the quarter that ended on 30th of June this year. Last year, for the similar quarter, the registered net profit figure was Rs 47.86 crore. Finolex Industries has informed this fact in a statement.

There has been a decline of almost 66% in the net profit figure of the firm in the Q1 of this year as compared to its corresponding quarter in the preceding financial year. However, there has been a hike in its net sales in the reviewed quarter.  

The net sales of the company have gone up to Rs 530.24 crore in Q1 of 2010-11 which was reported to be Rs 359.2 crore for its like period a year ago.