 "Birla Corporation Q3 Net falls 50%")
The net profit of Birla Corporation Ltd, the flagship company fo M P Birla group, declined by over 50% to Rs 15.99 crore during the third quarter ended December 31.
The company had posted a net profit of Rs 32.31 crore in the year-ago period.
Net sales of the company, primarily engaged in cement manufacturing, increased by 15.8% during the quarter at Rs 710 crore as against Rs 612.55 crore in the previous corresponding period, the company said in a statement.
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Chairman of Birla Corporation H V Lodha said in the statement that cement industry was witnessing a challenging scenario with subdued realisation on one hand and higher input and logistic costs on the other.
The realisation was substantially lower, particularly in the northern and eastern regions, compared to the rates in the previous corresponding quarter, he said.