First quarter net profit fell to 4.626 trillion won (USD 4.34 billion), from 7.574 trillion won a year earlier, as troubles in its mobile division amid cut-throat competition from both Apple and low-cost Chinese manufactures overshadowed success in its chip division.
In an interview with CNBC-TV18, Sanjay Tapriya, CFO of Simbhaoli Sugars Mills said he is confident that the company would do well ahead. "We are anticipating that this least gap situation, between the cost of production and the selling price, will reduce significantly." He expects to see a turnaround in coming quarters.