Birla Corp announces results and starts constructing new facility

India’s Birla Corp Ltd reported a INR270m (US$3.76m) net profit for the third quarter ending 31 December 2018, up from a INR220m net loss of the previous year’s period. The growth was recorded despite an increase in the cost of petcoke and coal.

Furthermore, the company’s net sales rose 12 per cent to INR15.57bn in the 3QFY8-19, compared to INR13.88bn of the year-ago period.

The company also announced that its RCCPL subsidiary has begun construction of a 3.9Mta greenfield integrated cement plant in Yavatmal, Maharashtra. According to an earlier announcement, the INR24.5bn investment will see the plant equipped with a 40MW captive power plant and a 10.6MW WHR unit. RCCPL is also expected to upgrade capacity at its Kundanganj grinding unit by 1.2Mta.