Birla Corporation, the flagship company of the MP Birla group, has reported a net profit of INR106.40 crore in the quarter ended December 31, 2007, an increase of 11.84 per cent over the same period last year. Operating profit increased 10 per cent to INR150 crore. Gross turnover stood at INR497.86 crore, an increase of 7.2 per cent.
Turnover for nine months was at INR1,433.64 crore, an increase of 11.8 per cent and net profit during the period was at INR307.01 crore, an increase of 36.42 per cent.
Rajendra Singh Lodha, chairman, Birla Corporation, attributed the performance to better cement realizations and cost control measures. He also said that the expansion at Satna and Chanderia were progressing as per schedule.
The company has decided to install power plants at its Satna and Chanderia units and the project was expected to completed in 20 months.