Birla Corp December qtr net down 59% to Rs 60 cr as cement demand shrinks

M P Birla group flagship, Birla Corporation, reported a 59.3 per cent drop in net profit to Rs 60.45 crore in the December quarter as cement demand contracted in key markets. Net profit in the year-ago period was at Rs 148.42 crore.

Revenues for the quarter dipped from Rs 1,823 crore to Rs 1,757 crore as sales volume dropped by 5.6 per cent. This translated into lower capacity utilisation of 86 per cent for the December quarter against 92 per cent a year earlier, the company said.

However, the company said that it was able to shore up realisation per