Birla Corp reports 82% rise in net profit

India’s Birla Corp has seen its net profit surge 82.1 per cent YoY to INR1.484bn (US$20.35m) in the December quarter, compared to INR814m in the 3QFY19-20. Revenue also increased five per cent YoY to INR18.23bn, while EBITDA was up 19.4 per cent to INR3.76bn.

The company’s sales volumes rose 3.2 per cent to 3.55Mt in the October-December 2020 period, boosting capacity utilisation to 92 per cent from 88 per cent in the same period last year.

In the 9MFY20-21, its net profit climbed 22.7 per cent YoY to INR3.81bn. This was attributed to cost rationalisation, improved operating efficiency and a modest recovery in cement demand, according to the company.