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Birla Corp Q2 net jumps over 5-fold to Rs 88.34 cr

Press Trust of India  |  New Delhi 

MP Birla Group cement and cement products player Birla Corporation on Tuesday reported over five-fold jump in consolidated net profit of Rs 88.34 crore in the September quarter.

The company had posted a consolidated net profit of Rs 16.29 crore in the corresponding quarter last fiscal, Birla Corporation said in a regulatory filing.

Amid a slowdown in the core sector, the company said it has been able to grow its net profit helped by multiple factors, including higher realisation from sale of premium and blended cement and cost rationalisation.

Revenue from operation stood at Rs 1,626.86 crore as against Rs 1,464.52 crore in the same period last fiscal, it added.

Sales by volume were at 3.2 mt as against 3.07 mt in the year-ago period, up 4.1 per cent, the company said.

The firm said in the second quarter it sold 2.65 mt of cement through the more remunerative trade or retail, channels.

Premium cement accounted for 41 per cent of sales through trade channel, compared to 37 per cent in the same period last year, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 05 2019. 18:45 IST