AIS Q1 FY07 net down by 69.59%

New Delhi, July 28 (UNI) Asahi India Glass Ltd (AIS), a glass company, today posted 69.59 per cent decline in its net profit at Rs 4.98 crore for the first quarter ended on June 30, 2006 as against Rs 16.38 crore for the same period last year.

''Net Profit has declined due to adverse fluctuation in foreign exchange. We expect to improve top line growth in the remaining quarters by increasing scales and sweating our assets,'' AIS Managing Director&CEO Sanjay Labroo said.

However, the company reported a sales increase of 10 per cent to Rs 204.94 crore in the first quarter of 2006-07 from Rs 186.72 crore in the previous year.

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