Cement maker Birla Corporation today reported a 56 per cent drop in net profit at Rs 6.57 crore for the quarter ended December 31, 2015.
The flagship firm of the M P Birla Group had clocked a net profit of Rs 15 crore in the year-ago period, it said in a BSE filing.
Total income of the company rose by 6.6 per cent to Rs 807.06 crore in the October-December quarter from Rs 756.81 crore during the same period in 2014-15.
Birla Corp's total expenses were higher at Rs 786.96 crore from Rs 754.31 crore earlier.
The firm has a total operational cement capacity of about 10 MTPA with units in Rajasthan, Madhya Pradesh, Uttar Pradesh and West Bengal.
Last week, the cement maker said it will seek shareholders' nod to raise funds on a private placement basis for expansion, including acquisition of greenfield and brownfield cement plants.
Birla Corp will hold a postal ballot to take the approval of shareholders for a special resolution to raise funds.
