The Birla group stock, which specializes in cement manufacturing, climbed 7.6% to attain ₹1,678 per share after the company disclosed a 127% year-on-year surge in net profit.
At 10:55 a.m., On Monday, Birla Corporation Ltd. shares were trading at ₹1,624 a share on the National Stock Exchange, up 4.21 percent, and the company has a market capitalization of ₹ 12,402 cro
Birla Corporation Ltd announced a consolidated net profit of ₹193 crores for the quarter ending March 2024 (Q4FY24), marking a 127% rise from ₹85 crores recorded in Q4FY23. Additionally, the company’s total revenue for the same quarter surged by 8%, reaching ₹2,463 crores compared to ₹2,656 crores in the previous year’s corresponding quarter.
For the fiscal year 2023-24, the company reported a consolidated net profit of ₹421 crore, up 927% from crores in FY22-23. Similarly, the total revenue for the fiscal year grew by 11%, standing at ₹9,663 crores compared to ₹8,682 crores in the previous fiscal year. As per the company’s filing.
The Cement Division witnessed a significant increase in EBITDA per ton for the March quarter, rising by 56.7% to ₹ 964 compared to ₹ 615 in the corresponding period last year. Sequentially, this reflects a growth of 6.75% from ₹ 903 in the December quarter.
Moreover, the Company achieved a record-high cement sales volume of 4.85 million tons for the March quarter, marking a 9.4% increase from 4.4 million tons in the same period last year.
Additionally, the Company’s full-year operating profit margin expanded by over 630 basis points to reach 15.52%. This expansion contributed to the Company’s net profit of ₹ 421 crore, which is more than 10 times higher than the net profit of the previous year.