Birla Corp FY07 net rises 159.4 per cent

KOLKATA: Birla Corporation, the flagship company of M P Birla group, posted a 159.4 per cent jump in net profit for the year ended March 31 at Rs 326.23 crore as compared to Rs 125.76 crore in the previous fiscal.

The total income (net of excise) during the year grew 29.69 per cent to Rs 1,593.41 crore from Rs 1,228.60 crore in 2005-06.

Chairman R S Lodha said the good performance of the company was due to increased share of blended cement in the overall sales of cement.

Blended cement gives better margins since its cost of production is lower.

The board of directors at its meeting on Wednesday declared a 35 per cent dividend of Rs 3.50 on 7.70 crore equity shares of Rs 10 each.

Net profit for the fourth quarter ended March 31 increased 51 per cent to Rs 101.19 crore as against Rs 67.14 crore in the same period previous fiscal.

The total income (net of excise) for the quarter grew 14.86 per cent to Rs 455.91 crore from Rs 396.90 crore for the corresponding quarter a year ago.

The group posted a net profit (after minority interest) of Rs 325.48 crore for the year ended March 31, as compared to Rs 125.31 crore in the previous year and the total income (net of excise) grew to Rs 1,593.45 crore from Rs 1228.48 crore in the period under review.

The company has embarked upon an expansion plan at its Satna and Chanderia plants, which would be completed by 2008-09, Lodha said.

The company's jute division has been incurring losses.