Birla Corp Q1 net profit jumps 116%

MP Birla group flagship company Birla Corporation has more than doubled its net profit for the first quarter of the current fiscal at almost Rs 100 crore as against Rs 45.99 crore in a year ago period. Net sales for the quarter under review grew by about 12% at Rs 859.32 crore as against Rs771.96 crore in a year ago period.

Following the results, the company scrip hit a 52 week high on the BSE at Rs 472.80 and later settled at 4.28% higher at Rs 440.85 on bourses on Friday. The stockhad opened on BSE at Rs 419.85 on Friday.

The company reported operationalincome of Rs 875 crore, higher by 11.7% while the otherincome by grew by over 65% to Rs 42.12 crore compared to Rs25.52 crore in a year ago period.

Birla Corporation is in the business ofcement, jute, auto trim parts and iron and steel casting. Cement isone of the key business for the Kolkata based company.