M P Birla Group firm Birla Corporation Ltd on Wednesday reported a consolidated net profit of Rs 58.37 crore for the second quarter ended September.
It had posted a net loss of Rs 56.46 crore in the July-Septemer period a year ago, the company said in a regulatory filing.
Birla Corporation's revenue from operations was up 14.3 per cent to Rs 2,285.83 crore during the quarter in comparison to Rs 1,999.83 crore in the corresponding period a year ago.
Its revenue from the cement business was at Rs 2,178.32 crore, up 16.17 per cent compared to Rs 1,875.02 crore a year ago in the September quarter.
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Revenue from the jute business was down 13.23 per cent to Rs 107.60 crore.
The total income of Birla Corporation stood at Rs 2,313.23 crore, up 13.30 per cent over the year-ago period.
Chairman Harsh V Lodha said in a statement that the company recorded steady progress in the last three quarters.
"The results were achieved despite cement prices remaining flat, and many of the core markets affected by heavy rains and other seasonal factors,” Lodha said.
Meanwhile, the board of its subsidiary RCCPL Pvt Ltd approved a proposal to set up a 1.4 MT greenfield grinding unit at Prayagraj in Uttar Pradesh. The estimated cost of the project is around Rs 400 crore, the company said.
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