Birla Corp Q3 Profit Jumps to Rs 109 cr | Business News
Feb 06, 2024 18:19
Birla Corporation reports a consolidated net profit of Rs 109 crore in Q3 FY23, a significant improvement from the previous year's loss. Revenue also rose by 15%.
Kolkata, Feb 6 (PTI) M P Birla Group flagship company Birla Corporation reported a consolidated net profit of Rs 109 crore in the quarter to December as against a loss of Rs 50 crore in the corresponding period a year ago.
Revenue rose 15 per cent to Rs 2,328 crore in the reporting period, it said in an exchange filing.
The company's EBITDA came in at Rs 395 crore in the quarter ended December, reflecting an increase of 159.9 per cent over Rs 152 crore in the year-earlier period.
Cement sales by volume stood at 4.2 million tonnes, up 13.2 per cent year-on-year, while capacity utilisation was 85 per cent for the third quarter.
Commenting on the performance, Chairman of Birla Corporation Harsh V Lodha said the results reflect the focus on improving operating efficiency in all parameters.
The company is ready to raise its manufacturing capacity to 30 million tonnes by 2030. Presently, the annual installed capacity is 20 million tonnes, it said.
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