Birla Corporation net up 53%

Birla Corporation net up 53%
Published: 01 November 2007

Birla Corporation Ltd, the flagship of the MP Birla group now controlled by Rajendra S Lodha, has reported a 53% increase in its profit after tax to nearly Rs 103 crore in the quarter ended September 30, 2007, even as turnover increased to Rs 456 crore from Rs 417 crore in the same quarter of the preceding year.

The operating profit increased to Rs 160 crore from Rs 103 crore in the same quarter of the previous year, while earning per share has gone up to Rs 13.39 from Rs 8.77. Profit after tax for the first half of the year has gone up by over 54% to around Rs 201 crore, while turnover has increased by 14% to Rs 936 crore from Rs 818 crore in the first half of the preceding year.

Lodha, who is the chairman, said the expansion projects at the company’s cement plants at Satna in Madhya Pradesh and Chanderia in Rajasthan were on schedule, and would take the total capacity to 7.5Mt once completed.