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Birla Corporation Ltd, the MP Birla group flagship, saw a 38.02 per cent drop in net profit during the October-December quarter of 2010-11 to Rs 69.59 crore against Rs 112.29 crore registered during the same quarter the previous year.
The net sales for the quarter were Rs 479.38 crore (Rs 558.88 crore).
Revenues from cement business, the largest money-spinner for the company, declined from Rs 516.47 crore to Rs 438.76 crore, while its profit before interest and tax slumped to Rs 62.78 crore (Rs 129.29 crore). The shares of the company closed one per cent down on the BSE at Rs 332.
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