Birla Corporation today posted a dip of 54.6 per cent in its net profit during the second quarter of FY11, touching Rs 68.97 crore, compared to Rs152.05 crore in the corresponding quarter of FY10.
Turnover of the company during the current Q2 declined marginally by 1.07 per cent at Rs 550.34 crore from Rs 556.31 crore in the previous corresponding quarter.
The company said in a statement that profitability during the quarter was lower on account of shutdown of its plants for capacity expansion and maintenance.
Performance of the jute division of the company was improving, the company said.
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