Birla Corporation, the flagship company of the M.P. Birla Group, dropped on Friday after it registered a drop in standalone net profit for the quarter ended March 2014.

During the quarter, the profit of the company declined 63.93% to Rs 262 million from Rs 726.30 million in the same quarter last year.

Net sales for the quarter rose 17.03% to Rs 7,934.9 million, compared with Rs 6,780 million for the prior year period.

Shares of the company are trading at Rs 300, down Rs 5.2, or 1.70% at the Bombay Stock Exchange (BSE) on Friday at 11:55 a.m.

The scrip has touched an intra-day high of Rs 302.45 and low of Rs 295. The total volume of shares traded at the BSE is 1,836.

In the earlier session, the shares gained 2.07%, or Rs 6.2, at Rs 305.20. Currently, the stock is trading down 4.46% from its 52-week high of Rs 314 and above 57.07% over the 52-week low of Rs 191.