Birla Corporation Bounces Back with Profit Surge in September Quarter
Birla Corporation Ltd reported a consolidated net profit of Rs 90.48 crore for the September quarter, a significant turnaround from a Rs 25.19 crore loss in the same period last year. The improvement was fueled by increased sales in both its cement and jute divisions.
- Country:
- India
Birla Corporation Ltd, part of the MP Birla Group, has announced a consolidated net profit of Rs 90.48 crore for the September quarter. This rebound was primarily driven by strengthened cement sales and a turnaround in its jute segment.
The company reported a net loss of Rs 25.19 crore during the same timeframe the previous year, marking a substantial financial recovery. Revenue from operations witnessed a commendable 13% increase, reaching Rs 2,206.53 crore compared to Rs 1,952.56 crore in the year-ago period.
Total expenses rose by 4.83% to Rs 2,102.49 crore in the September quarter. Cement business revenue surged 69.8% to Rs 2,073.16 crore with a 7% climb in sales volume to 4.25 million tonnes. Meanwhile, the jute segment saw a 69.8% increase in revenue, contributing to a cash profit of Rs 5 crore against a previous loss.