Birla Corporation’s net profit dips 3.57% in Q1 FY24, Real Estate News, ET RealEstate

August 26, 2023

NEW DELHI: Birla Corporation has reported a dip of 3.57 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 59.71 crore in Q1 FY24 as against Rs 61.92 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 2,424.63 crore in Q1 FY24, a growth of 9.31 per cent from Rs 2,218.06 crore it recorded in the similar quarter last year.

As on June 30, 2023, the company’s net worth stood at Rs 5,084.44 crore, debt-equity ratio was 0.81, current liability ratio was 0.31, total debts to total assets 0.29, operating margin was 12.63% and net profit margin was 2.53%.

During the quarter, RCCPL, a wholly-owned subsidiary of the company, has acquired 100% equity share of Sanghi Infrastructure M.P.

Birla Corporation achieved a capacity utilization of 91% for the quarter. RCCPL continues to ramp up production at its 3.9 million ton-Mukutban plant, which was commissioned a year ago. Dispatches from Mukutban in the June quarter rose 21% sequentially.

Though demand for cement was robust except in June, prices remained generally soft. It impacted company’s core markets and realisation per ton for the June quarter was 2.4% lower than the same period last year at Rs 5,183.

Power and fuel costs per ton for cement production for the June quarter fell 19% year-on-year, and it is expected to moderate further in the coming months. Sequentially, power and fuel costs were down 16.3%.

  • Published On Aug 8, 2023 at 05:45 PM IST

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