Birla Corporation shares rose sharply in Monday’s trading after the company reported strong quarterly numbers. The stock went up 8 percent to hit a day high of Rs 1,682.
Birla Corp reported a consolidated net profit of Rs 193.34 crore for the quarter ending on March 31, 2024. This was an increase of 127.59 percent compared to Rs 84.95 crore in the same period last year.
The company’s revenue from operations was Rs 2,656.43 crore in the March 2024 quarter. This was an increase of 7.87 percent compared to Rs 2,462.57 crore in the same period last year. Birla Corp’s board has also recommended a dividend of Rs 10 per share for the financial year 2024.
In the March quarter, the company achieved a record-high volume of cement sales at 4.85 million tons. This was an increase of 9.4 percent compared to 4.4 million tons sold in the same period last year.
For the entire financial year, the company reported a net profit of Rs 420.56 crore. This was an increase of 938 percent from Rs 40.5 crore reported at the end of the financial year 2023. Revenue from operations for the financial year 2024 was Rs 9,662.72 crore, an increase of 11.3 percent compared to the previous year.
As of 12:45 pm, the shares were trading 2.84% higher at Rs 1,604.25 on the National Stock Exchange.
