Calcutta, May 9: Birla Corporation Ltd, the flagship company of the MP Birla Group, has achieved its highest ever turnover of Rs 1,996.78 crore during the 2007-08 fiscal.

Backed by a strong demand for cement, the turnover increased by 11 per cent over the previous year’s turnover of Rs 1,794.51 crore. During the same period the net profit has gone up by 20.64 per cent at Rs 393.57 crore.

The company’s board has declared a dividend of 40 per cent for 2007-08.

For the quarter ended March 31, 2008, Birla Corporation registered a turnover of Rs 563.14 crore against Rs 512.21 crore in the corresponding quarter in the previous year.

The net profit, however, was lower at Rs 86.56 crore against Rs 101.19 crore mainly because of lower realisation coupled with an increase in input cost in the cement division and the suspension of operation at the Durgapur facility.

Rajendra S. Lodha, chairman of Birla Corp, attributed the improved performance to better realisation and operating efficiencies in the cement business.

Performance of the jute division has also improved. Lodha informed that the expansion at Satna and Chanderia, which would enhance the cement capacity of the company to 7.5 million tonnes, were likely to be completed in phases by June 2009.

TIL result

TIL Ltd has reported a standalone turnover of Rs 731.18 crore in 2007-08, representing an increase of 26 per cent compared with Rs 578.02 in the previous year. It posted a net profit of Rs 32.24 crore compared with Rs 18. 37 crore in 2006-07.

On a consolidated basis, total turnover increased to Rs 1,066.13 crore from Rs 773.12 crore in the previous year registering 38 per cent growth.