Birla Corp Q3 net falls 38% to Rs 70 cr

The net profit of Birla Corporation Limited has declined 38 per cent during the third quarter ended December 31, 2010 to Rs 70 crore, as compared to Rs 112.29 crore in the same period last fiscal.
   
The turnover of the company also decreased 11.51 per cent during the third quarter at Rs 546 crore as against Rs 617.84 crore in the corresponding previous quarter, the company said in a statement.
    
The company said that profitability had decreased due to the pressure on prices due to rise in capacities and poor demand from the government and infrastructure sectors.