Birla Corp net profit down 55.45% in Q4, blames high fuel prices

Company says it has 'healthy growth in sales by volume in almost every segment and market'.

Birla Corporation, the flagship firm of the M P Birla group, reported a 55.45 per cent drop in net profit to Rs 111.08 crore in the March quarter due to a one-off credit adjustment in income tax expense the previous year. The company’s net profit in the year-ago period stood at Rs 249.33 crore.

The company attributed the drop in net profit to a one-off credit adjustment of Rs 124.98 crore in income tax expense in the previous year. Profit before tax was lower by 14.79 per cent at Rs 153.18 crore.

The fall in profit was in spite of