Birla Corp has reported revenue of INR23,120m (US$278.6m) in the 3QFY23-24. This compares to INR20,161m in the same quarter a year earlier, marking a 14.7 per cent YoY advance. Consolidated net profit in the 3QFY23-24 came in at INR1091.4m, versus a net loss of INR499.1m in the 3QFY22-23, according to BusinessLine Online.
The company saw cement sales of 4.2Mt in the 3QFY23-24, up 13.2 per cent YoY, along with a capacity utilisation rate of 85 per cent over the three-month period. This compares to 74 per cent in the 3QFY22-23 and 83 per cent in the 2QFY23-24.
“We are firmly focused on reducing costs, improving capacity utilisation and realisation through a balanced brand portfolio, with equal emphasis on premium and value segments, geo-mix and go-to-market supply chain optimisation, and accelerated ramp-up of Mukutban,” said Harsh V Lodha, chairman, Birla Corp. The company aims to have a cement production capacity of 30Mta by 2030, according to Mr Lodha.
