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Kolkata: Birla Corporation’s consolidated net profit fell to Rs 37 crore in the second quarter of this fiscal from Rs 90 crore a year ago, as weak cement prices and disruption in construction activity from excessive rainfall hit its core markets. Consolidated revenue, however, rose 9% to Rs 2,441 crore from Rs 2,233 crore. Cement sales by volume grew 7% year-on-year to 4.5 million tonnes, while realisation rose 2% to Rs 4,925 per tonne.
Realisation was marginally lower sequentially, as prices weakened through July and Aug in core markets.
The company said its jute division overcame an acute shortage of raw jute to report a cash profit of Rs 13 crore against Rs 4.6 crore a year earlier. Faced with supply constraints, Birla Jute cut working days, and production fell 26% by volume year-on-year. Better price realisation, however, lifted its revenue 17%.
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