Results: Birla Corp net profit up 28% in Jan-Mar quarter/ Representational Image
Results: Birla Corp net profit up 28% in Jan-Mar quarter/ Representational Image

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, on account of higher capacity utilisation and sales.

The MP Birla Group flagship company had posted a net profit of Rs 194.73 crore in the year-ago period.

The board of the company also approved the issuance of secured redeemable non-convertible debentures aggregating up to Rs 200 crore on a private placement basis in one or more tranches.

The cement maker said sales volume jumped by 24.5 per cent to 4.17 million tonnes during the March quarter and the revenue was at Rs 2,146.12 crore, up by 24.9 per cent over the same period of the previous year. It achieved capacity utilisation of 108 per cent.

Despite the disruption in operations due to the COVID-19 pandemic, the company posted a net profit of Rs 630.14 crore in the 2020-21 fiscal, up by 24.7 per cent over the previous year.

Its revenue for the entire year fell by 1.6 per cent year-on-year to Rs 6,885.36 crore due to the lockdown in the first wave of COVID-19, it said.

Compared to the year-ago period, EBITA (earnings before interest, taxes, depreciation, and amortisation) at Rs 405.53 crore was 8.8 per cent higher during the January-March quarter.

The company said its expansion projects are getting delayed due to the COVID crisis.

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Free Press Journal