Cement maker Birla Corporation, the M P Birla Group flagship, on Tuesday reported a consolidated net profit of ₹109.14 crore for the third quarter this fiscal, against a net loss of ₹49.91 crore during the corresponding quarter last fiscal.
The company witnessed revenue growth of 14.68 per cent year-on-year at ₹2,312 crore for Q3FY24 compared with ₹2,016.11 crore for Q3FY23, it said in a stock exchange filing.
During the quarter, cement sales by volume stood at 4.2 million tonnes, which was up by 13.2 per cent y-o-y. The company, in a release, said it achieved a capacity utilisation of 85 per cent for the quarter compared with 74 per cent a year earlier and 83 per cent in the September quarter.
Focus areas
Commenting on the company’s performance, Chairman Harsh V Lodha said, the results were a reflection of its focus on improving operating efficiency in all parameters. “We are firmly focused on reducing costs, improving capacity utilisation and realisation through a balanced brand portfolio, with equal emphasis on premium and value segments, geo-mix and go-to-market supply chain optimisation, and accelerated ramp-up of Mukutban,” Lodha said.
Having established a strong base across north India, the company is now ready for the next phase of its journey to become a 30-million-tonne player by 2030, he added.