Birla Corporation Ltd, an M.P. Birla Group company, on Saturday reported that its consolidated net profit fell to Rs 1.46 crore in the quarter ended September 30, as compared to Rs 65.43 crore in the corresponding period last fiscal.
Revenue from operation during the quarter stood at Rs 1,235.49 crore compared to Rs 1,079.83 crore in the year ago period as cement prices remained depressed in key markets despite an increase in sales volume.
Referring to the performance of the cement division of the company, Chairman Harsh V. Lodha said that despite a challenging environment, the company was able to ramp up volumes during the seasonally weak quarter and realise enhanced levels of synergy benefits arising out of the acquisition of Reliance Cement Company Private Ltd (RCCPL).
"In our core markets of Central India, demand and prices were seriously impacted by prolonged shortage of sand and aggregates, especially in Uttar Pradesh which constitutes around 35 per cent of the company's consolidated sales," he added.