Chemical firm SRF Ltd on Tuesday reported a 33 per cent decline in its consolidated net profit to Rs 201.42 crore for the second quarter of this fiscal on higher expenses and announced plans to invest Rs 1,100 crore on new plants to manufacture fourth-generation refrigerants. Its net profit stood at Rs 300.78 crore in the year-ago period. The total income rose to Rs 3,457.63 crore during the July-September period of this fiscal from Rs 3,206.48 crore in the year-ago period, the company said in a regulatory filing. The company's total expenses increased to Rs 3,173.97 crore in the second quarter from Rs 2,791.67 crore a year ago. SRF Chairman and Managing Director Ashish Bharat Ram said, While the performance this quarter has been expectedly subdued, I believe the worst is now behind us. We will start seeing an improvement from this quarter onwards with a likelihood of a strong finish to the year". SRF also informed that its Board of Directors approved "a project for setting up new