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Birla Corporation on Saturday reported a consolidated net profit of Rs 193.34 crore for the quarter ending on March 31 in the financial year 2023-24 (Q4 FY24). This was a 127.59 per cent year-on-year (Y-o-Y) surge from Rs 84.95 crore. Sequentially, the company reported a 77 per cent increase from Rs 109.14 crore.
The company reported a consolidated revenue from operations of Rs 2,656.43 crore in Q4. This was a 7.87 per cent increase from Rs 2,462.57 crore reported during the same period last year. Sequentially, revenue rose 15 per cent from Rs 2,312 crore in Q3.
In the March quarter, the company achieved a record-high volume of cement sales, reaching 4.85 million tons, marking a 9.4 per cent increase from the 4.4 million tons sold in the same period last year. This led to a capacity utilisation rate of 97 per cent, a significant improvement from 89 per cent in the corresponding period last year. Over the full year, the company's capacity utilisation stood at 89 per cent, compared to 81 per cent in the previous year.
The Cement Division of Birla Corporation reported a significant improvement in earnings before interest, taxes, depreciation, and amortisation (Ebitda) per ton, with a growth of 56.7 per cent in the March quarter compared to the same period last year. The company reported an Ebitda per ton of Rs 808 for the full year, representing a 69 per cent increase Y-o-Y.
"Realisation for the full year was marginally lower at Rs 5,204 per ton versus Rs 5,216 in the previous year owing to the sharp decline in prices in the March quarter," the company said.
For the entire financial year, the company reported a net profit of Rs 420.56 crore, up 938 per cent from Rs 40.5 crore reported at the end of FY23.
Revenue from operations for FY24 was Rs 9,662.72 crore, up 11.3 per cent Y-o-Y from Rs 8,682.27 crore.
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Commenting on the results, Chairman Harsh Vardhan Lodha said, “Birla Corporation’s performance in financial year 2023-24 is the result of all-round improvement in performance in all areas of operations. The investment in capacity-building across functional verticals is reflected in the impressive ramp-up of the Mukutban unit, ahead of the guidance given by the company.”
The company board has recommended a dividend of Rs 10 per share for the financial year 2023-24.
Shares of Birla Corporation closed trading at Rs 1,556.3 on Friday on the BSE.
