Hit by higher expenses, N Srinivasan-led India Cements Ltd net profit for the April-June quarter dipped by 73 per cent to Rs 16.82 crore.
The Chennai-based cement maker had clocked Rs 62.07 crore net profit in the same quarter a year earlier, it said in a BSE filing.
Net sales of the company rose slightly to Rs 1,238 crore from Rs 1,201 crore a year ago.
However, total expenses was up to Rs 1,115 crore from Rs 993 crore. It consumed power and fuel worth Rs 330 crore from Rs 288 crore a year earlier.
India Cements' consumed raw material cost also went up to Rs 159 crore compared to Rs 137 crore a year earlier.
Finance costs also rose to Rs 100 crore from 95 crore a year ago.
Shares of the company were trading at Rs 43.25 apiece, down 3.46 per cent in the afternoon trade in BSE.