Birla Corporation PAT reaches Rs 95.14 crore

Kolkata, Jan 31 (UNI) Birla Corporation Limited, the flagship company of the M P Birla Group, has recorded the best ever result for the third consecutive quarter.

During the quarter ended on December 31,2006, the comany had achieved a quarterly turnover of Rs 464.40 crore, a 39.21 per cent growth over the same quarter of the previous year and the highest ever profit after tax at Rs 95.14 crore against Rs 17.22 crore in the corresponding period in the previous year.

Elaborating the result, Birla Corporation Chairman Rajendra S Lodha attributed the strong third quarter financials to increase in the share of blended cement in the overall sales of cement, better realisation and reduction in power cost in the cement division.

While the operating profit jumped to Rs 145.95 crore during the quarter review, profit before tax increased to Rs 132.84 crore from Rs 16.54 crore in the corresponding quarter.

EPS for the quarter had also gone up to Rs 12.35 from Rs 2.24 during the same quarter in the last fiscal.

Profit after tax for the nine-month period ended 31 December, 2006 had gone up to Rs 225.04 crore.

Mr Lodha stated that the company's programme to expand cement capacity by 1.25 million ton of its plants at Satna (M>P>) and Chanderla (Rajasthan) is progressing as per schedule.

UNI