Birla Corp reports Rs 250 million loss in Q2 of FY'25
ECONOMY & POLICY

Birla Corp reports Rs 250 million loss in Q2 of FY'25

Birla Corporation, the flagship company of the M P Birla group, reported a loss of Rs 250 million in the second quarter ending September 2024, compared to a net profit of Rs 580 million during the same period last year. The cement maker’s revenue for the July-September quarter decreased by 14.8% to Rs 19.70 billion, down from Rs 23.12 billion in the previous corresponding period.

In its statement, the company noted that it recorded a consolidated EBITDA of Rs 1.94 billion for the quarter under review, in contrast to Rs 3.16 billion in the same period the previous year.

The statement indicated that cement demand was sluggish during the traditionally weak monsoon quarter, with prices falling to record lows across all key markets. The company achieved an overall capacity utilization of nearly 80%, with around 90% in its core markets. Its annual installed cement manufacturing capacity stands at 20 million tonnes.

Regarding the outlook, the cement maker expressed cautious optimism for the third quarter ending in December. Additionally, the company’s jute division faced challenges due to declining orders both domestically and internationally.

Birla Corporation, the flagship company of the M P Birla group, reported a loss of Rs 250 million in the second quarter ending September 2024, compared to a net profit of Rs 580 million during the same period last year. The cement maker’s revenue for the July-September quarter decreased by 14.8% to Rs 19.70 billion, down from Rs 23.12 billion in the previous corresponding period. In its statement, the company noted that it recorded a consolidated EBITDA of Rs 1.94 billion for the quarter under review, in contrast to Rs 3.16 billion in the same period the previous year. The statement indicated that cement demand was sluggish during the traditionally weak monsoon quarter, with prices falling to record lows across all key markets. The company achieved an overall capacity utilization of nearly 80%, with around 90% in its core markets. Its annual installed cement manufacturing capacity stands at 20 million tonnes. Regarding the outlook, the cement maker expressed cautious optimism for the third quarter ending in December. Additionally, the company’s jute division faced challenges due to declining orders both domestically and internationally.

Next Story
Infrastructure Urban

Macrotech acquires Bain Capital's stake in 3 entities for Rs 3 Bn

Realty firm Macrotech Developers has acquired Bain Capital's stake in three industrial and logistics park entities for Rs 3.07 billion as part of a strategy to enhance rental income. Macrotech Developers is one of the leading real estate firms in the country. It sells properties under Lodha brand. In a regulatory filing, the company informed that it has "executed Securities Purchase Agreements (SPAs) with India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1 (Bain Capital) for acquisition of their interest in the digital infrastructure platform entities (Bellissimo Digital I..

Next Story
Infrastructure Urban

Tata Steel reports Rs 7.59 Bn net profit in Jul-Sep

Tata Steel reported a net profit of Rs 7.58 billion for the September 2024 quarter, helped by lower expenses. It had posted a net loss of Rs 65.11 billion in the July-September period of the preceding 2023-24 fiscal, the company said in an exchange filing. In a separate statement, Tata Steel CEO and MD TV Narendran said the global operating environment remained complex, with key regions facing subdued growth. Macroeconomic conditions in China continued to weigh on commodity prices, including steel. In India, steel demand continued to improve, but domestic prices were under pressure due to chea..

Next Story
Infrastructure Urban

SC to verdict on Nov 7 on plea against NCLAT

The Supreme Court is scheduled to pronounce its verdict on a plea of State Bank of India (SBI) and other creditors challenging the National Company Law Appellate Tribunal (NCLAT) decision that upheld the resolution plan of grounded air carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium (JKC). A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra will pronounce the verdict which was reserved on October 16. The NCLAT had on March 12 upheld the resolution plan of the grounded air carrier and approved the transfer of its ownersh..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000