Birla Corp FY07 net up 160%, India

Birla Corp FY07 net up 160%, India
Published: 31 May 2007

Birla Corporation, the M P Birla group flagship, has registered a net profit of Rs 326.23 crore for the year ended March 31, 2007, an increase of 159.40 per cent. The company achieved its highest turnover of Rs 1,794.51 crore, up 25.19 per cent. Earnings per share was at Rs 42.36. The company has declared a dividend of 35 per cent for 2006-07.  
Rajendra Singh Lodha, chairman, attributed the performance to increased share of blended cement in the overall sale of cement, better realisation, higher volumes and operational efficiencies in the cement division.  
Also, installation of power plants at the cement units at Satna in Madhya Pradesh and Chanderia in Rajsthan helped in reducing the power cost substantially.  
The company has embarked on expansion projects which would enhance the cement capacity by 1.7Mt and would be commissioned in phases in 2008-09.