Aditya Birla Nuvo Q4 consolidated net loss tops Rs141 crore

28 April 2009

Aditya Birla Nuvo Ltd has reported a net loss of Rs26.4 crore during the fourth quarter of the financial year 2008-09 (January-March 2009) against a loss of Rs70.5 crore in the same quarter of the previous year, due mainly to a subdued performance in the carbon black and the garments businesses.

Consolidated net loss, during the fourth quarter, increased from Rs21.8 crore to Rs141.2 crore. This is lower by Rs15.2 crore vis-à-vis a net loss of Rs156.4 crore incurred in the previous quarter, the company said in a release.

Standalone net loss during the year stood at Rs137.4 crore against Rs243.1 crore in the previous financial year.

Aditya Birla Nuvo is a platform that has launched many new businesses for the Aditya Birla Group. It has a balanced portfolio of traditional and new age businesses under its fold, ranging from textiles to life insurance.

During the year, the company's consolidated net sales grew 26 per cent to Rs14,200.4 crore from Rs11,249.6 crore, achieving growth across the businesses except for IT services and textiles.

The company's standalone net sales during the year rose 22 per cent to Rs4,687.6 crore from Rs3,842.3 crore, largely driven by the fertilisers and the carbon black businesses. During the fourth quarter, standalone net sales grew from Rs1,102.3 crore to Rs1,152.7 crore.