M P Birla Group agency Birla Company on Friday reported 52 per cent rise in March quarter consolidated internet revenue at Rs 194.73 crore, helped by decrease gasoline prices and enchancment in effectivity and price rationalisation.
It had posted a internet revenue of Rs 128.19 crore in January-March 2018-19, Birla Company mentioned in a BSE submitting.
Nonetheless, income from operation was down 9.76 per cent to Rs 1,689.97 crore through the quarter underneath evaluation as towards Rs 1,872.76 crore earlier.
“The corporate reported larger earnings throughout March quarter with EBITDA for the quarter being larger by 11.7 per cent over the earlier yr at Rs 373 crore, regardless of lack of volumes since March 22 as a result of state of affairs arising out of COVID-19,” the corporate mentioned in a submit earnings assertion.
“Throughout March quarter, the corporate reaped the advantages of decrease gasoline prices and its sustained investments into enhancing effectivity and price rationalisation,” it added.
The corporate’s subsidiary RCCPL Pvt Ltd (previously Reliance Cement Firm) has migrated to the brand new tax regime introduced in October final yr, and beneficial properties on account of the change have contributed considerably to the expansion in consolidated internet revenue, it mentioned.
Throughout the quarter, the corporate’s whole bills have been at Rs 1,525.66 crore as towards Rs 1,735.71 crore, down 12.10 per cent.
For 2019-20, Birla Company reported almost two-fold bounce in internet revenue to Rs 505.18 crore as towards Rs 255.70 crore within the earlier yr.
Income from operation within the final monetary yr was Rs 6,915.69 crore, up from Rs 6,548.73 crore in 2018-19.
The corporate’s board has additionally determined to pay a dividend of Rs 7.50 per share for 2019-20, similar as that within the earlier yr.
The corporate is primarily engaged within the manufacturing of cement as its core enterprise exercise. It has a big presence within the jute items business as effectively.
Shares of Birla Company on Friday settled at Rs 405.75 apiece on BSE, down 1.39 per cent from the earlier shut.
ALSO READ | RBI move to cut repo rates progressive: SICCI