Birla Corporation Ltd, a M P Birla group’s flagship company, has posted a 38 per cent dip in profit after tax to Rs 69.59 crore in the third quarter of the financial year, as against Rs 112.29 crore during the corresponding period last fiscal.
The company’s cash profit for the quarter also decreased 39.62 per cent to Rs 107.44 crore from Rs 177.94 crore during the corresponding period last financial year. The turnover for the quarter was also down 11.5 per cent to Rs 546.75 crore against Rs 617.84 crore last year. However, the firm will go ahead with its new projects.
Birla Corporation’s major projects include setting up of a greenfield cement plant in Guwahati with an investment of about Rs 450 crore, a grinding unit with a capacity of 5,00,000 tpa sat Kota in Rajasthan.