Birla Corporation Ltd posts 82% jump in net profit
The company attributed the sequential deceleration to the cost push
Birla Corporation Ltd posted an 82.1 per cent jump in net profit for the third quarter compared with the same period last year even as it could not maintain the profit and the margin recorded in the preceding three months.
Net profit of the Harsh Vardhan Lodha managed company stood at Rs 148.42 crore compared with Rs 81.49 crore in the third quarter of the previous fiscal and Rs 166.62 crore in the second quarter of this fiscal.
Birla Corp attributed the sequential deceleration to the cost push. “In the December quarter, the company witnessed an increase in raw material, power and fuel costs. Also, cement prices remained relatively weaker in the quarter compared with the preceding three months and together they led to the softening of EBIDTA per tonne on a sequential basis,” it said in a note.