The M.P. Birla Group, one of India’s major industrial conglomerates, was founded in 1919. The business is a market leader in the cement sector. having a significant presence in northern, central, and eastern India.
The M.P. Birla Group, regarded as a pioneer in the cable industry, has partnerships with international behemoths like Furukawa.
Post-tax profit of Birla Corporation Limited declined marginally by 3.6 per cent at Rs 60 crore in the first quarter of ending June 2023 of the current financial year as compared to Rs 62 crore in the similar previous period.
Revenue of the MP Birla flagship company increased to Rs 2,425 crore in the current first quarter, as against Rs 2,218 crore in the previous corresponding period, a company statement said on Tuesday.
The company said that the fall in net profit in the first quarter was due to higher depreciation and interest cost.
EBITDA (earnings before interest, tax, depreciation and amortisation), a parameter used to assess a company’s operating performance, increased 14.8 per cent at Rs 314 crore during the first quarter, as against Rs 274 crore in the previous similar period.
Primarily a cement manufacturer, the company achieved capacity utilization of 91 per cent in the first quarter. The annual installed cement manufacturing capacity of the company is 20 million tonnes.
The jute division of the company had a difficult quarter as demand for the hessian fabric contracted, the statement said.
