Birla Corporation Ltd said its net profit fell 54.6% to Rs69 crore during the second quarter ended 30 September 2010 compared to Rs152.1 crore in the same quarter of last year due to shutdown of its plants for capacity expansion and maintenance.
Turnover of the company during the September 2010 quarter declined marginally by 1.1% at Rs550.3 crore from Rs556.3 crore.
The company said in a statement that profitability during the quarter was lower on account of shutdown of its plants for capacity expansion and maintenance.
Performance of the jute division of the company was improving, the company said.
On Thursday, Birla Corporation shares ended 3.9% down at Rs386 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.1% to 20,005 points.
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