Kwality Ltd today posted 54 per cent drop in its standalone net profit to Rs 20.93 crore in the third quarter of the 2017-18 fiscal due to finance cost. Net profit stood at Rs 45.09 crore in the year-ago period, the company said in a regulatory filing. Net income increased to Rs 1,773.50 crore in the October- December period of 2017-18 compared to Rs 1,588.05 crore in the same period of the last year. Expenses remained higher at Rs 1,736.58 crore as against Rs 1,519.10 crore in the said period. Finance cost increased as the company paid dues of the previous years, the filing added. Shares of the company were trading 1.50 per cent higher at Rs 91.10 apiece at 1515 hours on the BSE today.
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