Birla Corp Q1 net falls 5%

Net profit of Birla Corporation of the MP Birla group decreased by 5.41% at Rs 111.88 crore in the first quarter of this financial year over the corresponding period last fiscal.

Turnover of the company also declined marginally by 1.51% at Rs 642.12 crore in the quarter as compared to Rs 651.99 crore in the same quarter a year ago.

In a statement issued by the company, chairman of Birla Corporation Harsh Lodha said the profitability was affected due to poor off-take of cement and increase in coal and freight costs.