Birla Corp Q3 net loss narrows to Rs21.84 crore
Birla Corp. Ltd on reported a consolidated net loss of Rs21.84 crore for the quarter ended December, lower from the year-ago period loss of Rs41.29 crore.The Kolkata-based company said during the quarter under review, its revenue from operations was at Rs1,389.32 crore, up by 12.73% year-on-year.
“Factor that affected operations during the quarter was non-availability of railway rakes, as these were diverted for carrying coal to power plants,” the company said in a release.
Birla Corp.’s fuel costs went up by 25% in October-December, owing to a rise in coal and petcoke prices and non-availability of linkage coal, the release said. In the reporting quarter, cement production stood at 30.62 lakh tonne compared to 25.08 lakh tonne in the corresponding period last fiscal, reflecting an increase of 22.09%.
The consolidated results include the financials of Reliance Cement Co. Ltd (RCCPL), a wholly-owned material subsidiary of Birla Corp.