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Birla Corporation, the flagship company of the MP Birla Group, has reported a 50 per cent jump in standalone net profit to ₹42 crore for Q1 FY19, against ₹28 crore in the previous year period.
Standalone revenue from operations stood at ₹1,095 crore. (Revenues are not comparable on a year-on-year basis since sales are net of GST.)
According to a Birla Corp release, there was marked improvement in realisations during the quarter in all the regions except the North. This apart, there was a pick-up in construction activities and easy availability of sand (except in Rajasthan).
Meanwhile, RCCPL (formerly Reliance Cement Company Pvt Ltd), a wholly-owned subsidiary of Birla Corp, has decided to set up a 3.9 mtpa greenfield integrated cement unit in Maharashtra at an estimated cost of ₹2,450 crore. The proposed unit will be financed through a mix of debt and internal accruals and is expected to be commissioned in FY22.
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