Birla Corporation records 48.5% drop in Q2 net profit to Rs 86 crore

Lower demand in core markets, surge in expenses cited as reasons for muted show

Birla Corporation has recorded a 48.5 per cent drop in net profit to Rs 86 crore in the quarter ended September 30 on the back of lower demand in core markets coupled with a surge in expenses. The company’s net profit was at Rs 167 crore in the year-ago period.

Revenues were higher by 2.1 per cent to Rs 1,711 crore. The company said that demand for cement was majorly impacted by the extended and heavy monsoon and shortage of sand in states such as Uttar Pradesh and Bihar, which were important markets for the company.

Further, to sustain market share and