Shares of Birla Corporation Ltd were trading in the green and 7% higher on 6 May after the company announced its quarterly earnings for January-March. 

The company reported a 128% year-on-year surge in net profit to Rs 193.34 crore from Rs 84.95 crore reported in the same quarter of the previous fiscal year. 

The revenue from operations of the company during the quarter stood at Rs 2,656.43 crore, marking an 8% YoY increase from Rs 2,462.57 crore reported in the same quarter of the last fiscal year. The company said that the demand for cement had been lowered due to the general elections followed by the monsoon’s arrival.

The Board of Directors of the company also recommended a dividend of Rs 10 per share for the fiscal year 2024.

The company’s board has also approved a grinding capacity expansion plan of 1.4 million tonnes per annum for a total investment of Rs 425 crore at its existing location in Kundanganj. The project is likely to be completed in 24 months and will be funded through internal accruals. 

At 3:30 pm, the shares of Birla Corporation shed all its early gains and closed 0.19% lower at Rs 1,557 on NSE.