Birla Corporation posts net profit of Rs 106.40 crore

Kolkata, Jan 31 (UNI) Birla Corporation Limited, a flagship company of the M P Birla Group, has posted a net profit of Rs 106.40 crore against Rs 95.14 crore, an increse of 11.84 per cent over the corresponding period previous year.

The company reported a gross turnover of Rs 497.86 crore during the quarter ended December 31, 2007 against Rs 464.40 crore in the corresponding previous period.

The operating profit increased to Rs 150 crore from Rs 136.37 crore.

The earning per share (EPS) had jacked up to Rs 13.82 from Rs 12.35.

The company's turnover and net profit during the first nine months of 2007-08 were Rs 1433.64 crore and Rs 307.01 crore respectively.

While the turnover for the nine-month period recorded an increase of 11.8 per cent, the net profit grew by 36.42 per cent from the coresponding period the previous year.

The earning per share during the nine-month period went up to Rs 39.87 from Rs 29.22.

Eloborating on the results, Mr Rajendra S Lodha, Chairman, Birla Corporation, said the expansion of capacity of Satna and Chandena was progressing as per schedule.

Mr Lodha further stated that the company had decided to instal power plants at its Satna and Chanderia cement units utilising waste heat, released from pre-heater and cooler.

The project for waste heat recovery will also be eligible for CDM benefits. The project is likely to be completed within 20 months and once the same becomes operational, both cement units are expected to become almost self-sufficient in power.

UNI SJC KK KLC1802