Gujarat NRE Coke posted a 20 per cent drop in net profit to Rs 8 crore for the quarter ended September 30 against Rs 10 crore during corresponding period last year.
Net sales increased by 11 per cent to Rs 270 crore. Mr Arun Kumar Jagatramka, chairman and managing director, Gujarat NRE, said that the company's sales were affected by the iron ore crisis down south.
Steel plants which sourced met coke from the company's Dharwad plant were operating at minimal capacity, he added. The seasonal effect of rainfall during the second quarter also had a dampening effect on sales.