Birla Corporation net profit in quarter falls 24 per cent

Birla Corporation today reported 24 per cent decline in net profit at Rs 84.74 crore for the first quarter ended June 30 as compared to Rs 111.88 crore in the corresponding quarter last year.

Net sales of the company increased by 18 per cent at Rs 658 crore during the quarter as compared to Rs 556.97 crore in the same quarter last year,the company said in a statement here.

The company said profitability remained subdued due to the closure of limestone mining operations at its Chanderia unit.

Cement dispatch during the first quarter of 2012-13 stood at 16.28 lakh tonnes as compared 16.33 lakh tonnes in the last quarter of 2011-12 and 15.20 lakh tonnes in the corresponding quarter last year,the company said.