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KOLKATA, JAN 31: Driven by strong cement demand and better price realisation. Kolkata-based Birla Corporation Ltd has posted a 452.5% growth in net profit in the quarter ended December 31, 2006, compared with the figure for the same period last year. Profit after tax went up from Rs 17.22 crore to Rs 95.14 crore during the period under review while turnover was up 39.12% to Rs 464.4 crore.
RS Lodha, chairman, has attributed the strong third quarter financials, the company's best-ever third quarter, to the increase in the share of blended cements in overall sales of cement, better realisation and reduction in power costs in the cement division.
While the operating profit jumped to Rs 145.95 crores from Rs 29.13 crore, profit before tax has increased to Rs 132.84 crore from Rs 16.54 crore.
Earnings per share has also gone up to Rs 12.35 from Rs 2.24 during the same quarter last fiscal.
The company said the company's capacity expansion programme to 1.25 million tonne at Satna in Madhya Pradesh and Chandrela in Rajasthan is progessing on schedule. |
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