Birla Corp reports 14% revenue growth in 2QFY24

Birla Corp reports 14% revenue growth in 2QFY24
13 November 2023


Birla Corp has reported revenue of INR22,858.3m (US$274.5m) in the 2QFY24 ended 30 September 2023. This marks a 14.3 per cent YoY increase. Net profit in the 2QFY24 came in at INR583.7m, compared to a loss of INR564.6m in the same period a year earlier. The rise in profit has been attributed to a number of factors, including cost initiatives and optimisation of the power and fuel mix, according to the company. Cement sales over the same three-month period advanced by 14.8 per cent YoY to 4.18Mt.

Birla has ramped up production at its Mukutban plant with full-scale operation of its captive limestone mines now underway, significantly reducing production costs at the works. The company has also approved a 1.4Mt greenfield grinding unit at Prayagraj in Uttar Pradesh. According to BusinessLine (The Hindu), the project marks an investment of INR4000m and construction is due to begin “almost immediately”. 

Published under Cement News