Birla Corp Q4 Results: Profit More Than Doubles Beating Estimates
Net profit of the cement company surged 127% year-on-year to Rs 193.34 crore in the fourth quarter, beating Bloomberg's estimate of Rs 150.78 crore.
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.
