New Delhi, May 08: Aditya Birla Nuvo, the Aditya Birla Group company, reported consolidated net profit of Rs 180 crore for the quarter ending March 31, 2010. It had reported a consolidated net loss of Rs 146 crore for the same quarter last year.
Net profit of the company for year ended March 31, 2010 stood at Rs 154 crore as against Rs 435.7 crore loss in the last fiscal. However, the company said that due to acquisitions, disposals, stake changes, mergers, de-mergers in the company, the corresponding quarters are not comparable.
“Our thrust on profitable growth across the businesses has led to a turnaround of about Rs 600 crore at the bottom-line,” said Sushil Agarwal, chief financial officer of Aditya Birla Nuvo. Improved profitability in the manufacturing businesses and reduced losses in the life insurance, IT-ITeS and garments businesses led to earning growth for the company.
—-Agencies