Birla Corporation Ltd registered a nearly 23 per cent drop in its consolidated net profit for Q4 FY23 at ₹85 crore as against ₹111 crore it reported in the year-ago period.
Consolidated revenue from operations increased around 8 per cent at ₹2,512 crore during the quarter (₹2,334 crore). The company’s board has also recommended a dividend of ₹2.50 per share for FY23and approved the issue of redeemable non-convertible debentures aggregating up to ₹200 crore on private placement basis in one or more tranches within a period of one year.
Realisation up
Despite sluggish demand in most key markets, the company’s consolidated cement sales by volume grew by around 5 per cent y-o-y to 4.44 million tonnes and even with the price remaining weak, realisation was up by 4 per cent over the same period last year at ₹5,261 per tonne, said a statement.
Sequentially, however, the company has seen an improvement in profitability. It had reported a consolidated net loss of ₹50 crore…