Birla Corp Q3 net profit up 82% to Rs 148 crore on cost rationalisation
The cement maker had posted a net profit of Rs 81.49 crore in the year-ago period.
January 23, 2021 / 09:42 PM IST
MP Birla Group flagship Birla Corporation Ltd on Saturday said its consolidated net profit jumped 82.1 percent year-on-year to Rs 148.42 crore for the third quarter of the current fiscal on the back of cost rationalisation and higher sales.
The cement maker had posted a net profit of Rs 81.49 crore in the year-ago period. The company's revenue from operations during the December quarter of the current fiscal was at Rs 1,776 crore with volume rising by 3.2 percent to 3.55 million tonnes.
This was achieved through a mix of cost rationalisation and improved operating efficiency, aided by a modest recovery in cement demand, it said.
"Birla Corporation Ltd's sales by volume for the December quarter rose 3.2 percent to 3.55 million tonnes, boosting capacity utilisation to 92 percent from 88 percent in the same period last year," the company said in a statement.
The Kolkata-headquartered company claimed that its capacity utilisation for the October-December period of the current financial year was one of the highest in the industry.
Despite severe disruptions in the first quarter owing to the COVID-19 pandemic, the company has managed to boost its profitability. Its net profit for the nine months till December has grown by 22.7 percent to Rs 380 crore over the same period last year.