Birla Corporation Limited, flagship company of the M P Birla Group, reported 189 per cent growth in net profit at Rs17.22 crore in the third quarter of the current financial year against Rs5.95 crore during the corresponding period the previous year.
Net sales during the period went up by 9.41 per cent to Rs333.60 crore from the corresponding period’s Rs304.90 crore.
R S Lodha, chairman, said the new thermal power plant of 27MW at Satna was commissioned during the quarter and this plant, along with the 27MW plant at Chanderia (Rajasthan) which was commissioned in the previous quarter, helped the company in reducing power cost.
During the quarter, Durga Hitech Cement, with a capacity of one million ton of cement adjacent to the existing facility at Durgapur (West Bengal), also commenced commercial production.
With this plant, the company had the largest cement production capacity of 1.6Mt at a single location in the state of West Bengal.