Economy & Market

Birla Corporation Q3 net profit down 85percent at Rs 2 crore

Published

8 years ago

February 12, 2017

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MP Birla Group firm Birla Corporation has reported a decline of 85.06 per cent in standalone net profit to Rs 2.09 crore for the third quarter ended December 31, on account of decline in cement sales in key markets due to a liquidity crunch. The company had posted a net profit of Rs 13.99 crore in the October-December period a year ago, Birla Corporation said in a BSE filing.
Birla Corporation’s total income from operations during the quarter under review was down 8.07 per cent to Rs 848.93 crore, as against Rs 923.47 crore in the corresponding quarter of the last fiscal. The company’s cement production was down 10.79 per cent to 17.51 lakh tonnes in the quarter compared with 19.63 lakh tonnes in the year-ago period.
"The drop in volumes was contributed primarily by the affect of demonetisation in the key markets of north and central India where the company’s operations are concentrated," the company said. Total expenses were down 8.33 per cent to Rs 827.36 crore during the quarter against Rs 902.64 crore in the year-ago period. Revenue from the cement segment declined 10.22 per cent to Rs 754.45 crore during the quarter as against Rs 840.35 crore of the corresponding period last year. However, the jute segment was up 12.40 per cent to Rs 75.12 crore as against Rs 66.83 crore.

Concrete

Shree Cement reports 2025 financial year results

Published

5 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

5 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/