Aditya Birla Nuvo reports positive results
Indian textile and garment company Aditya Birla Nuvo, an Aditya Birla Group company, has posted positive results for the quarter ended December 31, 2005.
Its consolidated turnover of Rs1150.15 Crores ($260.5 million), was up by 41.5% over the Rs812.62 crores achieved in the corresponding quarter of the previous year. Net profit rose to Rs26.00 crores against Rs11.35 crores in the corresponding quarter of the previous year.
The company’s Textiles Division’s reported a 19% increase in revenues to Rs. 139.81 crores against Rs117.44 crores. Operating profits jumped 76% helped by strong performance across segments.
The Rayon Division’s revenues at Rs102.06 Crores increased by 6% compared with Rs96.32 crores in the corresponding quarter of the previous year.
At the company’s Madura Garments division, revenue increased 31.5% to Rs170.76 crores vis-à-vis Rs129.89 crores recorded in the corresponding quarter of the previous year.