Written by: ENS Economic Bureau
1 min readKolkataJul 29, 2012 01:09 AM IST
First published on: Jul 29, 2012 at 01:09 AM IST
Birla Corporation has posted a net profit of Rs 84.74 crore for the quarter ending June 30 against Rs 111.88 crore for the corresponding period the previous fiscal.
Net sales of the company during the quarter under review has increased to Rs 658.02crore against Rs 556.97 crore during the corresponding period the previous fiscal.
In a press statement Harsh V Lodha,chairman of the Company said that the profitability of the company was affected due to the closure of limestone mining operations at its Chanderia units on account of the order of the Rajasthan High Court.
Further,increase in rail freight on incoming raw materials and outgoing cement dispatches coupled with rise in the cost of power and fuel has impacted profit,as did increase in the effective excise duty rate. The suspension of work at Birla Jute Mills,Birlapur,too,had an adverse effect on the companys bottomline, Lodha said in the statement.
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