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Our Bureau

Kolkata , July 27

THE board of the B.K. Birla flagship company, Kesoram Industries, has decided to increase cement output capacity by one million tonne at its unit located at Sedam in Karnataka with a captive power plant at an approximate cost of Rs 3.75 crore.

The board, which took on record the 2004-05 first quarter results, estimated the likely adverse impact of the withdrawal of benefit of additional excise duty on tyre in the Budget at Rs 19.60 crore for the company. This will be the effect of "reversal of benefit recognised as income earlier," the notes to the accounts said.

In the quarter ended on June 30, 2004, the gain of Rs 2.11 crore for hiving off the refractory division was treated as other income after making adjustment for the tax of Rs 11 lakh.

The net profit for the first quarter has shot up to Rs 16.74 crore from Rs 9.74 crore recorded in the corresponding period in the last financial year.

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