Birla Corporation registers 168 % jump in Q1 net

Kolkata, Jul 31 (UNI) Birla Corporation Ltd, the flagship company of the M P Birla group, today reported 168 per cent growth in Q1 net profit to Rs 62.63 crore against Rs 23.24 crore in the corresponding quarter previous year.

The turnover grew by 21 per cent to Rs 400.84 crore.

"Increase in volumes, higher sales price realisation and better operating efficiencies in the cement division led to the good performance," chairman R S Lodha said.

The installation of power plants in the company's cement units at Satna (Madhya Pradesh) and Chanderia (Rajasthan) in the previous year has helped in bringing down the power cost, Lodha said.

He said the company had embarked on an expansion project to increase the clinker producing capacity at Satna by 7.35 lakh tons in two phases.

UNI TJP JYN RN1735