Cement products firm Birla Corporation announced Q3FY23 results: Consolidated Q3FY23: Birla Corporation Limited’s December quarter revenue grew 9% YoY on a comparable basis to Rs 1,911 crore but profitability was impaired by high fuel costs. Total revenue at Rs 2,024 crore was up 15% over the previous year, which includes sales from the Mukutban unit (of the company’s subsidiary, RCCPL) which started commercial operations in the current financial year. Cement sales by volume for the quarter were up 11% YoY at 3.72 million tonnes. The production cost of cement for the Q3FY23 was 12% higher than the same period last year owing primarily to power and fuel resulting in lower cash profit on a comparable basis, which was down 32% from last year at Rs 115 crore. Net loss of Rs 50 crore for Q3FY23 against a net profit of Rs 60 crore in the same period last year. Birla Corporation Limited is looking to scale up the production of coal from its own mines. The company’s subsidiary, RCCPL, has received the necessary clearances in January to raise production at its Sial Ghoghri mine from 3,00,000 tonnes per annum to 3,75,000 tonnes per annum. Birla Corporation Limited invested to penetrate new markets, it managed to improve realization per tonne for the December quarter to Rs 5,155 from Rs 4,899 a year ago. Result PDF
Cement & cement products company Birla Corporation announced Q2FY23 results: EBITDA for the September quarter fell 51.6% YoY to Rs 136 crore. The Company’s sales by volume in the September quarter at 3.64 million tons represents an 11% growth over the same period last year. On a comparable basis (excluding sales from Mukutban), sales by volume were up 7.6%, and revenue for the September quarter (including jute) at Rs 2,042 crore was up 19.3% YoY. Adjusted for the increase in production capacity, revenue for the September quarter grew 16.2% Birla Corporation suffered a net loss of Rs 56 crore in the September quarter against a net profit of Rs 86 crore in the same period last year. The Company’s bottom line was also impacted by higher interest and depreciation costs on account of the Mukutban unit, which was set up at an investment of Rs 2,744 crore. When scaled up to full 2 capacity, the Mukutban unit will augment the Company’s production capacity to 20 million tons. Result PDF