 "Birla Corporation Q4 net profit up by 314%")
The company's resurgence in jute business and focus on bottomline featured as the reasons behind the performance.
During January-March 2016, the company's net income rose to Rs 867 crore as against Rs 797 crore in the year ago period, as net profit soared to Rs 116 crore as compared to Rs 28 crore in the period under review.
Cement continued to be the priority as the company clocked an increase of seven per cent in its net sales of Rs 750 crore from this business as against Rs 701 crore in the last three months of the FY15. Gross profit from this segment increased by 273 per cent at Rs 97 crore.
The jute business, however, saw a resurgence which impacted its bottomline. Against a gross loss of Rs 65 crore during January-March 2015, the company successfully upped the bottomline to Rs 11.71 crore. Revenue from this segment rose by 30 per cent at Rs 103 crore as against Rs 79 crore in the review period.
Its net worth for the year ended March 31, 2016 went north by 3.5 per cent at Rs 2,707 crore as compared to Rs 2,615 crore during 2014-15.
