Date:01/06/2007 URL: http://www.thehindubusinessline.com/2007/06/01/stories/2007060106070200.htm

Back Birla Corp Q4 net rises to Rs 101.19 cr

Our Bureau

Recommends dividend of Rs 3.50 per share

Kolkata May 31 Birla Corporation Ltd has posted a net profit of Rs 101.19 crore for the quarter ended March 31, 2007 compared with Rs 67.14 crore in the same period the previous financial year.

Net profit for the whole year increased to Rs 326.23 crore (Rs 125.76 crore). Total annual income (net of excise) increased to Rs 1,593.41 crore in 2006-07 (Rs 1,228.60 crore).

The board has approved the audited accounts and recommended a dividend of Rs 3.50 per share (35 per cent).

A note on the 2006-07 accounts said the net deferred tax liability (computed in terms of AS 22) of Rs 12.33 crore (previous year Rs 33.77 crore) has been adjusted against the securities premium account. As a result of this, the 2006-07 PAT was higher by this amount.

The consolidated yearly results of this MP Birla group flagship for 2006-07 showed a net profit of Rs 325.48 (Rs 125.31 crore for the year to March 31, 2006). Consolidated total income (net of excise) increased from Rs 1,228.48 crore to Rs 1,593.45 crore.

Operations at the company's jute unit at Birlapur, near here, were affected for 63 days from January 5 this year. However, disruption in operation was averted in September 2006 at its Durgapur cement unit after resolution of issues with the workers.