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Birla Corporation Ltd, an MP Birla Group outfit, posted a 98 per cent drop in its consolidated net profit at ₹1.5 crore for the quarter ended September 30, compared with ₹65 crore in the same period last year.
Profits came down primarily on account of an increase in total expenses and a decline in other income. Total expenses increased by nearly 18 per cent to ₹1, 247 crore (₹1,060 crore). Other income declined 73 per cent to ₹12 crore (₹45 crore). Consolidated revenue from operations grew over 14 per cent to ₹1,235 crore (₹1,080 crore).
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