New Delhi: Kajaria Ceramics Ltd’s consolidated net profit dropped 5 percent to Rs Rs 61.54 crore for the third quarter of the current fiscal as compared to Rs 65.89 crore in the corresponding quarter of the previous fiscal.
The total income of the company dropped to Rs 746.43 crore in the third quarter of the ongoing fiscal as compared to Rs 763.09 crore in the same quarter of the previous fiscal.
The company has shelved its plans to expand the manufacturing capacity of polished vitrified tiles in its Malutana (Rajasthan) facility.
The demand for tiles in the third quarter of the ongoing fiscal continued to be low due to sustained weakness in the realty sector and overall slowdown in the economy, the company said in a statement.