Home / Knowledge / News / Apparel/Garments / Q4FY15 net soars 87.5% at Aditya Birla Nuvo
Q4FY15 net soars 87.5% at Aditya Birla Nuvo
20
May '15
Net profit at Kumara Mangalam Birla led Aditya Birla Nuvo Ltd soared 87.50 per cent year over year in the three months to March 31, 2015.

In a BSE filing, Aditya Birla Nuvo said its net profit surged to Rs 342.95 crore in the fourth quarter of fiscal 2014-15 as against Rs 182.90 crore in the same quarter of previous fiscal.

Net profit was driven primarily by a 40.34 per cent year on year reduction in employee benefit expense and a 40 per cent increase in other income.

However, net sales fell by a marginal 1.30 per cent to Rs 6,957.36 crore from Rs 7,049.56 crore in the three months to March 31, 2014.

Other operating income also zoomed to Rs 116.13 crore in the reporting quarter compared to Rs 61.90 crore, a massive hike of 87.6 per cent.

Aditya Birla Nuvo also managed to reduce its overall expenditure by 3.63 per cent to Rs 6,142.76 crore as against Rs 6,374.70 crore from the fiscal ago fourth quarter.

Overall expense was mainly down from employee benefit expense which fell steeply to Rs 581.28 crore, down 40.34 per cent from the fourth quarter of fiscal 2013-14.

Cost of material consumed also dropped 6.26 per cent to Rs 731.99 crore in the quarter under review to Rs 688.81 crore.

Profit from operations before other income, finance costs and exceptional items climbed to Rs 930.73 in the fourth quarter of 2014-15 compared to Rs 736.76 crore, up 26.32 per cent.

Other income also drove up 40 per cent to Rs 131.87 crore from Rs 96.26 crore in the prior fiscal fourth quarter.

Profit before finance cost and exceptional items mounted 27.55 per cent to Rs 1,062.60 crore in the reporting quarter as against Rs 833.02 crore.

While finance costs related to lending activities of subsidiaries expanded 50.44 per cent year over year to Rs 318.14 crore, other finance costs dipped 33.89 per cent to Rs 171.43 crore.

Profit after finance costs but before exceptional costs rose higher by 58.44 per cent from the same quarter of 2013-14 to Rs 573.03 crore in the last quarter of fiscal 2014-15.

Although for the fourth quarter of 2014-15, Aditya Birla Nuvo did not bear costs of exceptional items, in the fiscal ago quarter, it had borne a one-time expense of Rs 18.64 crore.

So, while pretax profit remained constant at Rs 573.03 crore in the quarter under review, the same declined to Rs 343.03 crore in the three months to March 31, 2014 on account of exceptional items.

For the fourth quarter of 2014-15, Aditya Birla Nuvo bore higher tax expense at Rs 230.08 crore as against Rs 160.13 crore, an increase of 43.68 per cent. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search