Birla Corp Q1 net up 68% to `141 crore

Kolkata: Birla Corporation Ltd on Friday posted a 68 per cent on-year rise in net profit to Rs 141 crore in the April-June quarter.

The company's revenue in the reporting quarter stood at Rs 1,884 crore as compared to Rs 1,655 crore in the corresponding period a year ago, translating to a rise of 14 per cent.

Earnings before interest, taxes, depreciation and amortization (EBIDTA) was at Rs 402 crore as against Rs 270 crore a year ago, it said in a release.

Commenting on the earnings, Chairman Harsh V Lodha said the results are a "reflection of our long-term strategy of enhancing profitability and competitiveness..."

"We have also increased our leadership bench-strength and built all-round competencies in preparation for our next phase of growth," he said.

The performance in the first quarter can be attributed to aggressive pricing, upgrading consumers to premium brands, and focus on the independent home-builder segment, the release said.