Press Release4 May 2024, 10:56 pm
Birla Corporation Ends Fiscal Year 2023-24 with Record Cement Sales and 127% Growth in Net Profit
AI Summary
Birla Corporation Limited announced impressive financial results for the March quarter of fiscal 2023-24. Despite weak market conditions, the company reported a 127% year-on-year increase in net profit, reaching Rs 193 crore. The Cement Division achieved a capacity utilization of 97% in the quarter, and consolidated revenue grew 6.8% to Rs 2,682 crore. Chairman Harsh Vardhan Lodha attributed the success to 'all-round improvement in performance' and the investment in capacity-building. The company plans to increase cement production to 25 million tons by fiscal 2026-27.
Key Highlights
- Birla Corporation posted a year-on-year net profit growth of 127% for the March quarter, amounting to Rs 193 crore.
- Cement Division achieved a capacity utilization of 97% for the March quarter.
- The company's consolidated revenue grew by 6.8% to Rs 2,682 crore.
- Birla Corporation is planning to increase cement production to 25 million tons by fiscal 2026-27.
- Harsh Vardhan Lodha, the Chairman, attributed the success to 'all-round improvement in performance' and capacity-building investments.