Birla Corp reports strong 4QFY16-17

Cost efficiencies and good price realisations helped India-based Birla Corp post strong results in the final quarter of FY16-17.

Revenue increased by six per cent YoY during the quarter driven by price realisation for the period which was up by 11 per cent YoY to INR4514 (US$70.1)/t.

EBITDA was INR949m, down ~8 per cent yoy chiefly due to the cement division's lower-than-expected EBIT margin. The cost per tonne rose 14 per cent YoY of this, freight costs rose 12 per cent YoY, and power and fuel was up two per cent YoY. Lower volumes and higher other expenditure led to EBITDA/t of INR343 (INR426 a year ago and INR255 in the previous quarter).