Indian cement maker Birla Corp. Wednesday said its first-quarter net profit fell 24%, as raw material costs jumped.
Net profit for the quarter ended June 30 slipped to INR1.18 billion from INR1.55 billion a year earlier, the company said in a statement to the Bombay Stock Exchange. Sales rose 17% to INR5.75bn from INR4.90bn.
Total costs increased 29% to INR4.24bn, with raw material costs surging 84% to INR1.12bn, the statement added.
Meanwhile, the company announced that it has successfully completed the second phase of the capacity expansion program at Satna covering debottlenecking of the clinker capacity. With this the clinker capacity at Satna will stand enhanced to 9600tpd from 7400tpd.