Birla Company This autumn outcomes: Web revenue jumps 52% to Rs 195 crore

New Delhi: M P Birla Group agency Birla Company on Friday reported 52 per cent rise in March quarter consolidated internet revenue at Rs 194.73 crore, helped by decrease gas prices and enchancment in effectivity and price rationalisation.

It had posted a internet revenue of Rs 128.19 crore in January-March 2018-19, Birla Company mentioned in a BSE submitting.

Nevertheless, income from operation was down 9.76 per cent to Rs 1,689.97 crore in the course of the quarter beneath overview as towards Rs 1,872.76 crore earlier.

€œThe firm reported greater earnings throughout March quarter with EBITDA for the quarter being greater by 11.7 per cent over the earlier yr at Rs 373 crore, regardless of lack of volumes since March 22 because of the scenario arising out of COVID-19,” the corporate mentioned in a submit earnings assertion.

€œDuring March quarter, the corporate reaped the advantages of decrease gas prices and its sustained investments into enhancing effectivity and price rationalisation,” it added.

The corporate’s subsidiary RCCPL Pvt Ltd (previously Reliance Cement Firm) has migrated to the brand new tax regime introduced in October final yr, and features on account of the change have contributed considerably to the expansion in consolidated internet revenue, it mentioned.

Throughout the quarter, the corporate’s complete bills had been at Rs 1,525.66 crore as towards Rs 1,735.71 crore, down 12.10 per cent.

For 2019-20, Birla Company reported almost two-fold bounce in internet revenue to Rs 505.18 crore as towards Rs 255.70 crore within the earlier yr.

Income from operation within the final monetary yr was Rs 6,915.69 crore, up from Rs 6,548.73 crore in 2018-19.

The corporate’s board has additionally determined to pay a dividend of Rs 7.50 per share for 2019-20, identical as that within the earlier yr.

The corporate is primarily engaged within the manufacturing of cement as its core enterprise exercise. It has a major presence within the jute items business as nicely.

Shares of Birla Company on Friday settled at Rs 405.75 apiece on BSE, down 1.39 per cent from the earlier shut.



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