India: Birla Corporation sees Q1 cement profits rise 441%

Birla Corporation has released its quarterly financial results for the three months to the end of June 2016. During this period, Birla’s profits from its cement operations rose by 441 per cent compared to those from a year earlier, standing at INR1.1bn (US$16.3m).

Cement revenues were also up, albeit not as spectacularly. In 1QFY16-17 total revenues were INR8.3bn (US$125m), an increase of 17 per cent YoY.

Cement volumes were also higher, with 2.17Mt dispatched as compared to the 1.96Mt in 1QFY15-16, a rise of 10.8 per cent. Sales reached 2.20Mt, the highest figure in Birla’s history.

The Business Standard reports that a move to petcoke helped to reduce expenditure on power, with clinker production costs falling by 13 per cent as a result.