New Delhi, Feb 6 (PTI) MP Birla Group firm Birla Corporation Ltd on Tuesday reported a consolidated net profit at Rs 109.14 crore for the third quarter ended December 2023 due to higher sales and cost optimisation measures.
It had posted a net loss of Rs 49.91 crore a year ago, Birla Corporation said in a regulatory filing.
Birla Corporation’s revenue from operations increased 14.67 per cent to Rs 2,312 crore during the quarter under review. It was Rs 2,016.11 crore in the corresponding period a year back.
“Total cost per ton of cement production for the December quarter at Rs 4,375 represents a decline of 8 per cent year-on-year and 3 per cent, sequentially,” the company said in an earning statement.
Its operating profit margin from cement for the December quarter was 17 per cent, it added.
“With several internal cost optimisation measures starting to deliver results, Birla Corporation is now among the most efficient cement manufacturers in the country in terms of production cost,” it said.
Its total expenses increased 4.13 per cent in the December quarter of FY24 to Rs 2,174.84 crore.
Birla Corporation’s total consolidated income increased 15 per cent to Rs 2,328.31 crore in the December quarter.
“The company’s consolidated revenue for the quarter at Rs 2,328 crore represents a 15 per cent growth over last year, as cement dispatches from Mukutban were steadily scaled up and sales of premium products expanded in key markets,” it added.
Birla Corporation’s revenue from Cement business was at Rs 2,232.55 crore, up 16 per cent.
Its revenue from jute business fell 12 per cent to Rs 79.58 crore.
Shares of Birla Corporation Ltd on Tuesday settled at Rs 1,517.65 apiece on BSE, up 2.33 per cent. PTI KRH KRH SMN BAL BAL
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