Birla Corp consolidated net profit slumps 98% to Rs 1.46 crore

Cement major Birla Corporation Ltd on Saturday reported a 97.7 percent decline in its net profit for the September quarter at Rs 1.46 crore.

The company had posted a bottom line of Rs 65.43 crore in the corresponding period a year ago.

Revenue from operations, however, grew 14.41 percent year-on-year to Rs 1,235.49 crore in the quarter under review compared with Rs 1,079.83 crore in the year-ago period.

There was a sharp decline in other income from Rs 45 crore in the three months ended September in 2016 to Rs 12 crore in Q2 of this fiscal.

Birla Corporation’s total expenses rose 17.64 percent to Rs 1,247.11 crore in July-September as against Rs 1,060.02 crore in same period last year.