Birla Corporation net up by 159.40 per cent

Kolkata, May 30(UNI) The net profit of Birla Corporation Limited, the flagship company of the MP Brila Group, surged by 159.404 per cent at Rs. 326.23 crore while the turnover recorded the highest ever growth by 25.19 per cent at Rs.1,794.51 crore as financial results for 2006-07 were declared today.

Company Chairman Rajendra S Lodha said the Earning Per Share(EPS) during the period also rose to Rs. 42.36. The Board of the company declared a dividend of 35 per cent for 2006-07 and the outgo on the account of it, including taxes, would be Rs. 31.53 crore, he said.

During the quarter ended March 31, 2007, the company posted 51 per cent increase in net profit at Rs. 101.19 crore, compared to Rs.

67.14 crore in the corresponding quarter the previous year. The turnover for the quarter at Rs. 512.21 crore rose by 11.63 per cent.

Mr.Lodha attributed the performance to the increased share of blended cement in the overall sale of cement, better realisation, higher volumes and operational efficienceis.

He said the company, during the year had emabarked upon expansion projects at Satna and Chanderia which would effectively enhance the cement capacity by 1.7 million tons. The expanded capacity will be commissioned in phases during 2008-09.

UNI