Aditya Birla Nuvo net profit at Rs 267 cr

In a statement,managing director Rakesh Jain attributed the flattish profit growth to moderation in some of the sectors the company operates in,maintaining that the company is outperforming the industry in most of the businesses.

Flagship arm Aditya Birla Financial Services’ earnings before tax grew 15 percent to Rs 204 crore during the quarter,the statement said.

On the manufacturing front,the operating profit was down 8 percent at Rs 190 crore. Sales volume and profitability in the carbon black and insulators businesses were affected year-on-year due to dumping from China,the statement said,without giving the absolute numbers.

Additionally,the planned maintenance shutdown in the agri-business for 20 days constrained urea sales volume and profitability,it said.

On the telecom vertical,group company Idea delivered a 32 percent jump in net profit at Rs 234 crore while Madura Fashion and Lifestyle’s operating profit was flat at Rs 22 crore.

Its IT and IT-enabled services arm,Aditya Birla Minacs’ net profit rose to Rs 19 crore from Rs 8 crore.

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