India: Birla Corporation has recorded a consolidated net profit of US$25.8m over the three months ending 31 March 2020, the fourth quarter of the Indian fiscal year 2020, up by 52% year-on-year from US$16.9m in the fourth quarter of the fiscal year 2019. Sales were US$223m, down by 5.5% from US$247m. This was due to the impacts of the coronavirus outbreak, which ended dispatches from late March 2020.
Birla Corporation said, “Despite muted market conditions, the company was able to raise price realisation through judicious adjustment of geographic and product mix aimed at increasing the share of blended and premium cements.”
Birla Corporation’s full year net profit for the fiscal year 2020 was a record US$66.7m, nearly doubling from US$33.7m in the fiscal year 2019.
