Kolkata, Oct 23 (PTI) M P Birla group flagship company Birla Corporation Ltd on Wednesday reported a Rs 25 crore loss in the second quarter ending September 2024 as against a net profit of Rs 58 crore in the year-ago period.
Revenue of the cement maker during the July-September quarter decreased 14.8 per cent to Rs 1,970 crore from Rs 2,312 crore in the previous corresponding period.
The company, in a statement, said that it posted a consolidated EBITDA of Rs 194 crore in the quarter under review as compared to Rs 316 crore in the same period last year.
In the traditionally weak monsoon quarter, cement demand was sluggish and prices plummeted to record lows in all the key markets.
The company achieved an overall capacity utilisation of close to 80 per cent, and around 90 per cent in core markets.
The annual installed cement manufacturing capacity of the company is 20 million tonnes.
On the outlook, the cement maker remains cautiously optimistic about the third quarter ending in December.
The jute division of the company was weighed down by flagging orders both from within the country and overseas, the statement added. PTI DC BDC
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