Birla Corporation, the flagship company of M P Birla group, on Wednesday reported a consolidated net profit of ₹58.37 crore for the second quarter of this fiscal against a net loss of ₹56.46 crore for the same period last fiscal.

The company’s revenue from operations rose 14.30 per cent year-on-year to ₹2,285.83 crore for the period under review (₹1,999.83 crore), according to a stock exchange filing.

Ramp-up at Mukutban

The company, in a release, said the September quarter profitability jumped despite seasonal factors on the back of softening fuel prices, ramping up of Mukutban cement plant’s operation, cost-initiatives, premiumisation and optimisation of power and fuel mix.

The company has ramped up production at Maharashtra’s Mukutban plant, a unit of its subsidiary RCCPL, to close to 1.5 lakh tonnes a month at the end of September. “Full-scale operation at the captive limestone mines in Mukutban has started, reducing cost of raw materials. As a result of the scaling up, the company has managed to reduce production cost significantly,” the cement maker said.

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The company’s cement sales by volume grew 14.8 per cent to 4.18 mt in Q2FY24 (3.64 mt) in Q2FY23.

The board of RCCPL has approved a plan to set up a 1.4-mt greenfield grinding unit at Prayagraj in Uttar Pradesh. The estimated cost of the project is around ₹400 crore. “The company is in possession of requisite land for the project and construction can start almost immediately on receipt of necessary clearances,” the release added.

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