Birla Corp Q3 net down 85% to Rs 2cr

Tax write-back saved cement major Birla Corporation from reporting loss for the Q3 period ended December 2016.
The company today reported a net profit of Rs 2.09 crore for the Q3 period ended December 2016, down 85 per cent compared to corresponding period profit of Rs 13.99 crore.
The company statement showed a tax write-back of Rs 13.75 crore which was adjusted with the pre-tax loss of Rs 11.66 crore.
Income from operation was down at Rs 831.97 crore for the quarter under review compared to Rs 910.29 crore in the same period quarter of last fiscal of FY'16.
Cement sales were down for the December 2016 to Rs 754.45 crore, down from Rs 840.35 crore registered in the corresponding quarter of December 2015.