KOLKATA: MP Birla group flagship Birla Corporation has witnessed a 56.2% fall in net profit in the first quarter of this fiscal. It has posted a net profit of Rs 61.9 crore from Rs 141.5 crore during the year-ago period.
According to the company, profitability, however, was dented by escalating costs of power, fuel and freight. “Costs of optimising Birla Corporation subsidiary RCCPL’s newly commissioned Mukutban plant in eastern Maharashtra also had a major impact on overall profitability,” it added.
However, Birla Corporation has registered a 25.2% increase in revenue even amid tepid cement demand as the company managed to ramp up capacity utilisation (on a like-for-like basis) to 101%. The company’s consolidated revenue for the first quarter of FY22-23 was Rs 2,218 crore. tnn
