Cement producer Birla Corporation Ltd said its first quarter net profit fell 23.9% to Rs Rs118.3 crore against Rs115.3 crore recorded in same quarter a year ago, despite a 20.5% increase in total revenues.
In a regulatory filing the company said during the quarter its profitability was impacted by lower cement realisation, more use of outsourced clinker, higher transportation charges, power and fuel costs, and increase in cost of packing materials and also reduction in other income by Rs22.2 crore, compared to the corresponding quarter.
During the quarter to end-June, Birla Corp’s total revenues, including sales, increased 20.5% to Rs652 crore from Rs541.2 crore a year ago.
On Thursday, Birla Corporation shares ended 0.5% down to Rs358 on the Bombay Stock Exchange, while the Sensex closed 0.8% up at 18,113 points.
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