Birla Corporation Ltd (NSE:BIRLACORPN) is a leading Indian cement manufacturer. The company produces cement, jute goods, PVC floor covering, and auto trims. Its products are sold under the brand names Birla Cement, Samrat Cement, and Perfect Plus.
Birla Corporation Ltd, a cement products firm, reported its Q3FY23 results, showing a 9% YoY growth in revenue to Rs 1,911 crore, but profitability was impacted by high fuel costs. The total revenue, including sales from the Mukutban unit of its subsidiary, was Rs 2,024 crore, up 15% YoY. Cement sales by volume were up 11% YoY at 3.72 million tonnes. However, the production cost of cement was 12% higher than the same period last year, resulting in a lower cash profit, down 32% YoY at Rs 115 crore. The net loss for Q3FY23 was Rs 50 crore, compared to a net profit of Rs 60 crore in the same period last year. The company is aiming to increase the production of coal from its own mines and invested in new markets, managing to improve realization per tonne for the quarter.
Birla Corporation Limited’s financial performance in the period ended December 31, 2022, was impacted by high fuel costs, resulting in a net loss for the period. However, the company’s efforts to improve realization per tonne helped improve the EPS compared to the previous quarter. The company will need to continue its efforts to control costs to improve profitability going forward.