Sahara One Media and Entertainment has announced its financial results for first quarter of the fiscal year 2010-11. The company has informed that, in this reviewed quarter there has been a huge decline in its net profit figure as compared to the same quarter in the last year.

The company had posted a net profit of Rs 8.10 crore in the first quarter of the financial year 2009-10. But in the corresponding quarter this year, the company has registered a net profit of Rs 2.14 crore.

There has been a decline of 73.58% in the reviewed quarter against Q1 in the preceding year. Sahara One Media and Entertainment has informed this fact to the Bombay Stock Exchange in a filing.

Moreover, the net sales of the company have also seen a decline in the Q1 of the current fiscal.

The net sales of the company have reported to be Rs 31.57 crore during April-June quarter of 2010-11. Last year for the same quarter, the company had posted net sales of Rs 48.50 crore.