Business Daily from THE HINDU group of publications
Wednesday, Jul 29, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, Jul 29, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate Results
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Cement Higher realisations spur Birla Corpn net 
Our Bureau Kolkata, July 28 Birla Corporation posted a 69 per cent jump in net profit at Rs 155.34 crore in the first quarter ended June 30 against Rs 91.82 crore in the corresponding quarter of the previous fiscal. The company’s turnover rose to Rs 541.18 crore from Rs 459.03 crore. Greater cement dispatch and higher realisations contributed to profit growth, the company said. Mr Harsh Vardhan Lodha, Chairman, told Business Line that the 1.2-million tonnes per annum brownfield cement project at Chanderia in Rajasthan has obtained environmental clearance. However, the clearance for additional limestone quarrying was awaited, he added. The project, which also involves setting up of a 30 MW captive power plant and 2 MW waste heat power plant, would be completed by October 2011 at a cost of Rs 570 crore. The company’s 5-lakh tonne coal washery and a 30 MW captive power unit at Satna in Madhya Pradesh at a cost of Rs 180 crore is expected to be ready by end-fiscal 2010-11. Existing Satna grinding units will also see additions and replacement by this timeline. The 6-lakh tonne grinding capacity expansion at Durgarpur, along with additional infrastructure, will also be commissioned by March 2011. Mr Lodha said internal accruals, including strong treasury balance, would primarily finance the projects. More Stories on : Cement
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