Birla Corporation records Rs 6.57 cr PAT in third quarter

Profit before exceptional items stands at Rs 15.84 cr

Birla Corporation Limited, flagship company of the M P Birla group, has recorded a profit after tax of Rs 6.57 crore in third quarter of the current fiscal compared to Rs 15 crore in the same period last year.

Profit before exceptional items, however, stands at at Rs 15.84 crore against Rs 7.61 crore.

Profit during the quarter was impacted due to higher provisioning for exceptional items, the District Mineral Foundation (DMF) and the National Mineral Exploration Trust, additional bonus liability upon the enactment of the Payment of Bonus (Amendment) Act, 2015, and additional liability for electricity in respect of the Durgapur units, totalling Rs 16.63 crores.

Net sales or income from operations stood at Rs 793.93 crores was higher from Rs 743.18 crores yearly.