Birla Corporation clocks 82% jump in net profit, aims 25 MT cement capacity by 2025
New Delhi: MP Birla Group company Birla Corporation Ltd has clocked 82 percent jump in net profit at Rs 148 crore in the third quarter of the current fiscal as compared to the same period of last fiscal.
The sales of the cement maker was able to increase sales by 3.2 percent to 3.55 million tonnes and the capacity utilization stood at 92 percent in the third quarter of the current fiscal from 88 percent in the same quarter of the previous fiscal.
The total revenues for the third quarter stood at Rs 1,823 crore, representing 5 percent growth from the same quarter of the previous fiscal. The Earnings Before Interest, Depreciation, Taxes and Amortization (EBIDTA) stood at Rs 376 crore, up by 19 percent as compared to the same quarter of the previous fiscal, the company said in a statement.
In the third, Birla Corporation Ltd saw a jump in raw material and power costs.
The cement prices were weaker in the third quarter as compared to the preceding 3 months. This led to softening of EBITDA per ton on a sequential basis. The company is expanding its production capacity at various factories. It aims to have a production capacity of 25 mt by 2025.