The company said it made up for its loss in production and sales at the beginning of the financial year by aggressively rationalising costs
Birla Corporation Ltd on Wednesday reported a 28 per cent year-on-year rise in its net profit to Rs 249.33 crore in the fourth quarter ended March 31, 2021
Revenues from operations stood at Rs 2,146 crore, up 24.9% YOY and 17.7% over the previous quarter
According to the Lodhas, the 'landmark judgment' clears the decks for Harsh Lodha to continue as the chairman of all companies of the MP Birla Group
The company, however, faced cost pressure in the December quarter, with an increase in raw material, power and fuel costs
In the past one week, most of the frontline cement stocks have outperformed the market and risen more than 4 per cent, as compared to 1.2 per cent rise in the S&P BSE Sensex
It was the first board meeting of the company that Lodha chaired after the Calcutta High Court order in October
The Division Bench of the Calcutta High Court on Thursday accepted the pleas of Birlas and declined the prayer of Lodhas and companies for stay on the directions passed by the single judge
As per Lodha, the estate is defined the assets prepared by jt administrators and produced in court. That makes the estate a minority shareholder in all four mfg firms within larger promoter group
The company is in the process of reviewing the said order of the High Court.
Lodha ceases to hold all positions in Birla group, including as director in companies and other positions in trusts, societies
Nearly 98% of shareholders vote in favour of his reappointment and payment of remuneration to Lodha
No payment of profit linked to director's remuneration by all four listed companies to be made to him at AGMs for FY20
Revenues (including other income), at Rs 1,241 crore, declined 34.7 per cent year-on-year as sales by volume dropped by more than 33 per cent to 2.4 million tonnes
It had posted a net profit of Rs 141 crore in the year-ago period, the company said in a statement
He will continue to be with the company for a few months to help with the transition.
While Birlas say firms are part of dispute and will fall under orders and decisions of Probate Court, Lodhas say they are not part of proceedings regarding the estate of late Priyamvada Devi Birla
State readies initial fund of Rs 1,000 crore for relief and restoration work
The affidavit on the election commission website was filed as part of his nomination for the Legislative Council election
He is now entitled to a 0.75% share in Birla Corp and Birla Cable profits; his profit-related commission can now exceed 50% of total remuneration of all non-exec directors of Vindhya Telelinks