Birla Corp net dips 51%

Last Updated: Sat, Feb 09, 2013 04:55 hrs

Birla Corporation has reported a net profit of Rs 32.2 crore in the third quarter of the current financial year compared to Rs 65.6 crore in a year ago period, witnessing a dip of 51 per cent.

Net sales of the firm increased by 14.6 percent to Rs 612.55 crore in the quarter under review as against Rs 534.59 crore during the same period in the previous fiscal.

The company credited the dip in profit to increase in cost of raw material and power, as well as freight cost following the increase in diesel prices.

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