Birla Corp Q1 profit declines 54% to Rs 43 cr

Birla Corp's expenses rose by over 65% at Rs 1604.19 crore

A sharp increase in expenses in the first quarter of the current financial year resulted in Birla Corporation posting an over 54 per cent decline in its net profit at Rs. 43.21 crore even as net revenue soared by nearly 60 per cent at Rs. 1667.74 crore.

In the corresponding quarter of the last financial year, the company’s topline stood at Rs. 1046.12 crore while the net profit was registered at Rs. 94.44 crore.

However, the company’s expenses rose by over 65 per cent at Rs 1604.19 crore during the quarter ended June 30, 2017 as against the expense of Rs. 968.99 crore which dragged down the company’s profitability.