Binani Cement has declared its first quarter financial results for the fiscal year 2010-11.

Binani Cement is the flagship company of the Braj Binani Group. It has informed that there has been a decline in its net profit figure in the quarter under review against its like period in the last year.

The company has posted a net profit of Rs 43 crore during the April-June period of fiscal year 2010 which is almost 60% down from the reported figure in the corresponding quarter of fiscal year 2009-10.

According to the company, officials, the increase in international coal prices and an increase in freight charges were the major factor of such decline in net profit.

They have also reported that it was really a tough quarter for the company in terms of profit figures.

So far as the net sales of the firm are concerned, it has also seen a decline. The company's net sales have been reported to be Rs 430 crore for the June quarter of the current fiscal year. It has fallen down by 22% in this period of time.