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

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

Myanmar's garment units risk closure due to virus impact

Myanmar's garment factories are facing the risk of shutdown as the...

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

GMAC urges EU to restore full EBA rights for Cambodia

Expressing disappointment over the recent European Union (EU)...

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

Uzbekistan 3rd biggest garment exporter to Kazakhstan

Uzbekistan exported 10,000 tonnes of apparel to Kazakhstan in 2019,...

Interviews View All

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Marco Girola,

Marco Girola

With its commitment to innovation and deep technical expertise,...

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Ravi Kant Prakash,

Ravi Kant Prakash

A crucial role in the process of fabric manufacturing is played by the...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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

Leave your Comments


February 2020

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


Advanced Search