Rico Auto Industries disclosed a steep drop in standalone net profit for the quarter ended September 2010. During the quarter, the profit of the company declined 24.29% to INR 42.70 million from INR 56.40 million in the same quarter previous year.

The company net sales for the quarter for the quarter rose 18.47% to INR 2,301.00 million, while total income for the quarter rose 17.31% to INR 2,391.50 million, when compared with the prior year period.