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Birla Corporation Q3 net profit down 85% at Rs 2 cr

M P Birla Group firm Birla Corporation today reported a decline of 85.06 per cent in standalone net profit to Rs 2.09 crore for the third quarter ended December 31, on account of decline in cement sales in key markets due to liquidity crunch.

February 08, 2017 / 07:31 PM IST
 
 
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M P Birla Group firm Birla Corporation today reported a decline of 85.06 percent in standalone net profit to Rs 2.09 crore for the third quarter ended December 31, on account of decline in cement sales in key markets due to liquidity crunch.

The company had posted a net profit of Rs 13.99 crore in the October-December period a year ago, Birla Corporation said in a BSE filing.

Birla Corporation's total income from operations during the quarter under review was down 8.07 percent to Rs 848.93 crore, as against Rs 923.47 crore in the corresponding quarter last fiscal.

The company's cement production was down 10.79 percent to 17.51 lakh tonnes in the quarter compared with 19.63 lakh tonnes in the year-ago period.