Birla Corporation surged 15.32% to Rs 561.50, extending gains for second day.
The stock has added 38.39% in two sessions from its recent closing low of Rs 405.75 recorded on 22 May 2020.Birla Corporation's consolidated net profit jumped 51.9% to Rs 194.73 crore on 9.8% decline in net sales to Rs 1,689.97 crore in Q4 March 2020 over Q4 March 2019. Revenue was impacted as dispatches were suspended towards the end of the financial year due to the Covid-19 pandemic.
Consolidated profit before tax (PBT) soared 19.1% to Rs 192.37 crore in Q4 March 2020 as against Rs 161.47 crore in Q4 March 2019. During the quarter, EBITDA advanced 11.7% to Rs 373 crore from Rs 334 crore in Q4 March 2019. The result was announced after market hours on Friday, 22 May 2020.
Sales volume dropped 13% to 3.3 million tonnes in Q4 March 2020 as against 3.8 million tonnes produced in Q4 March 2019. Capacity utilisation stood at 93% in Q4 FY20 as compared to 98% in Q4 FY19.
During the March quarter, the company reaped the benefits of lower fuel costs and its sustained investments into improving efficiency and cost rationalisation. Despite muted market conditions, Birla Corporation was able to raise price realisation through judicious adjustment of geographic and product mix aimed at increasing the share of blended and premium cement within its brand portfolio.
The company hasn't opted for the moratorium on repayment of term loans and interest. The management is taking several initiatives to cut costs across the board and defer capital expenditure.
Birla Corporation is primarily engaged in the manufacturing of cement as its core business activity. It has significant presence in the jute goods industry as well.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)