Birla Corporation, a leading cement manufacturer in India, recently announced its financial results for the fourth quarter ended March 31. The company reported a net profit of Rs 85 crore, which was a decline of 23.4% compared to the corresponding quarter of the previous year when it had recorded a profit of Rs 111 crore. Despite the dip in profits, Birla Corporation’s consolidated revenue grew by 7.6% to Rs 2,512 crore in Q4 FY22 as against Rs 2,334 crore in Q4 FY21. For the full financial year 2022-23, the company’s consolidated revenue was Rs 8,795 crore, an increase of 16.3% over the previous year. However, the net profit for the year was Rs 41 crore, a significant drop from Rs 399 crore in 2021-22.
The company faced challenges during the year due to a surge in power and fuel costs, which increased by 32% for the full year. Despite this, the company was able to register a sequential decline of 3% in power and fuel costs in the March quarter. The company’s board has recommended a dividend of Rs 2.5 per share for the financial year 2022-23.
In another announcement, Eveready Industries India reported a loss of Rs 21.09 crore for the fourth quarter of FY22, primarily due to a non-cash charge of Rs 17.04 crore against unamortised fees for loans repaid during the quarter. The company’s total income grew by 18.6% to Rs 286.2 crore from Rs 241.2 crore in Q4FY22. For the full year, Eveready’s revenue increased by 10.2% to Rs 1,327.7 crore, and the net profit stood at Rs 20.1 crore.
Kilburn Engineering, a company engaged in the manufacturing of process equipment and systems, reported an over two-fold rise in its net profit to Rs 12.34 crore in Q4FY22 compared to Rs 4.78 crore in the corresponding quarter of the previous year. The company’s income from operations grew by 15.9% to Rs 66.68 crore. For the full year, Kilburn Engineering’s net profit was Rs 30.14 crore, up from Rs 1.55 crore in FY22. The company’s revenue for the year was up by 80% to Rs 221.53 crore from Rs 122.76 crore in FY22. The company’s board has recommended a 10% dividend for the financial year.
In conclusion, while Birla Corporation faced challenges due to rising power and fuel costs, it was able to report an increase in revenue in Q4FY22. Eveready Industries India and Kilburn Engineering both reported growth in their revenue and net profits for the year. These results are an indication of the mixed performance of companies in various sectors during the year.
This article includes sponsored content. The views expressed are those of the sponsor and do not necessarily reflect the official policy or position of our publication.