 "Birla Corp Q2 results: Net loss at Rs 25 cr, revenue falls to Rs 1,970 cr")
M P Birla group flagship company Birla Corporation Ltd on Wednesday reported a Rs 25 crore loss in the second quarter ending September 2024 as against a net profit of Rs 58 crore in the year-ago period.
Revenue of the cement maker during the July-September quarter decreased 14.8 per cent to Rs 1,970 crore from Rs 2,312 crore in the previous corresponding period.
The company, in a statement, said that it posted a consolidated EBITDA of Rs 194 crore in the quarter under review as compared to Rs 316 crore in the same period last year.
In the traditionally weak monsoon quarter, cement demand was sluggish and prices plummeted to record lows in all the key markets.
The company achieved an overall capacity utilisation of close to 80 per cent, and around 90 per cent in core markets.
The annual installed cement manufacturing capacity of the company is 20 million tonnes.
Also Read
On the outlook, the cement maker remains cautiously optimistic about the third quarter ending in December.
The jute division of the company was weighed down by flagging orders both from within the country and overseas, the statement added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)