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Birla Corporation Ltd, the flagship company of the M P Birla Group, posted nearly 30 per cent rise in net profit on a consolidated basis to ₹131 crore for the quarter ended March 31, 2018, compared with ₹101 crore in the same period last year.
The board has proposed a dividend of ₹6.50 per share. The company’s consolidated results include those of Reliance Cement Company Pvt Ltd (RCCPL), its wholly-owned material subsidiary.
Revenue from operations increased by close to 2 per cent to ₹1,651 crore (₹1,623 crore). Post the implementation of GST in July 2017, sales are net of GST, whereas excise duty formed part of other expenses in previous periods.
Hence, the revenue from operations for the current quarter and year ended March 31, 2018, are not comparable with previous periods, the company said in a filing to the BSE on Wednesday.
For the year ended March 31, 2018, net profit dipped by 30 per cent to ₹154 crore on a consolidated basis.
“In view of acquisition of RCCPL as a wholly-owned subsidiary from August 2016, the consolidated financial results for the year ended March 2018, are not comparable with the corresponding period,” the company said.
The company’s revenue from cement sales grew by close to 2 per cent to ₹1,553 crore (₹1,529 crore). Revenue from jute segment grew by 5 per cent to ₹97 crore (₹92 crore).
The company’s consolidated EBITDA (earning before interest, tax, depreciation and amortization) stood at ₹284 crore, compared to ₹270 crore in Q4 FY17, said a press statement issued by the company.
“There was marked improvement in realisations during the quarter under review, which was partly offset by sharp increase in input costs, especially fuel,” the release said.
The first nine months of the year had been challenging owing to restriction on sand mining in Uttar Pradesh and Bihar, major markets of the company, which had a telling impact on cement demand.
With the availability of sand easing, the demand in these markets has returned to normal, helping recovery in volumes and realisation, the release said.
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