Calcutta, July 31: MP Birla group flagship company Birla Corporation has posted a net profit of Rs 62.36 crore in the April-June period compared with Rs 23.24 crore in the same quarter last year. Its total income (net of excise) went up by 24.82 per cent to Rs 352.73 crore from Rs 282.57 crore in the year-ago period. Earnings per share in the first quarter also went up to Rs 8.1 from Rs 3.02.

Birla Corp chairman Rajendra S. Lodha attributed this performance to an increase in volume, higher sales price realisation and better operating efficiency in the cement division. However, the jute division continued to be a drag with mounting losses.

Birla summoned

Calcutta High Court today issued summons to Basant Kumar Birla in a defamation suit filed by R.S. Lodha for a damage of Rs 100 crore. Birla has been asked to appear by August 7, 2006 and file a written statement by August 18.