Aditya Birla Nuvo posts consolidated net profit of Rs 281 cr

Mumbai, May 3 (UNI) Aditya Birla Nuvo, an Aditya Birla Group company, has posted a consolidated net profit of Rs 281.2 crore during the financial year ended March 31, 2007, up 38 per cent over the previous fiscal.

Announcing the results today, the Company said the stand-alone net profit for the year stands at Rs 225 crore, up by 20 per cent over the previous year's Rs 186.9 crore.

The consolidated sales has grown 65 per cent and netted Rs 8258 crore. The consolidated net sales for Q4 ended March 31, 2007 was Rs 2544.1 crore. The consolidated turnover was Rs 8258 crore for the year against Rs 5006.9 crore in the previous year.

The consolidated stand-alone turnover was Rs 3420.5 crore, which is a 29 per cent rise over the previous year's Rs 2642 crore.

Among its segments, the telecom segment recorded a net profit of Rs 503.3 crore against Rs 211.8 crore earned the previous year.

The life insurance segment incurred losses owing to a higher spend for augmenting the sales force and for opening new branches, the Company said.

The BPO business bottomline was impacted by interest burden on funding new acquisitions. The stand-alone businesses of garments and carbon blac has substantially contributed to the operating profit, the Company said.

The telecom business has shown huge growth in revenue from Rs 2965.5 crore to Rs 4366.4 crore, up by 47 per cent.

During the year, the Company raised its stake in Idea Cellular from 20.74 per cent to 31.78 per cent, the Company said.

UNI