Birla Corp.'s profit more than doubled in the quarter ended March 2024. Net profit of the cement company surged 127% year-on-year to Rs 193.34 crore in the fourth quarter, according to an exchange filing. That compares with a consensus estimate of Rs 150.78 crore, according to analysts tracked by Bloomberg.
Birla Corp. Q4 Results Highlights: (Consolidated YoY)
Revenue rose 7.87% to Rs 2,656.43 crore. (Bloomberg estimate: Rs 2,613.80 crore).
Ebitda rose 72.2% at Rs 472.41 crore. (Bloomberg estimate: Rs 416.82 crore).
Margin stood at 17.78% versus 11.13% (Bloomberg estimate: 15.90%).
Net profit rose 127.59% at Rs 193.34 crore. (Bloomberg estimate: Rs 150.78 crore)
The company's power and fuel costs per tonne of cement production fell 27% in the March quarter and 23.8% in the full year. Alongside, the company has steadily increased the use of renewable power, Birla Corp. said in an exchange filing.
Green power accounted for 25.37% of the total power consumed in the March quarter, compared to 20.02% in the same period last year. For the full year, renewables accounted for 24.15% of power consumed, versus 21.7% in the previous year, the filing added.
The cement division's Ebitda per tonne for the March quarter grew 56.7% to Rs 964 from Rs 615 in the same period last year. Sequentially, this represents a growth of 6.75% from Rs 903 in the December quarter, which is significant in light of the fall in cement prices, the filing said.
Shares of the company closed 4.50% higher at Rs 1,559.25 apiece on Friday, compared with a 0.76% decline in the benchmark Nifty 50.
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