Friday, July 29, 2005

Indian Rayon posts 16.6% growth

Indian Rayon, a major Aditya Birla Group brand, has reported a turnover of Rs. 485.08 Crores for the quarter ended 30th June 2005, a growth of 16.6% vis-à-vis Rs. 416.12 Crores achieved in the corresponding quarter of the previous year. While all businesses registered a good growth, Garments and Insulators have been the major contributors. Profit before Tax and exceptional item at Rs. 46.59 Crores is higher by 50.6%, driven by the Textiles, Insulator and Carbon Black business.Net profit for the year at Rs. 30.75 Crores against Rs. 20.87 Crores in the corresponding quarter of previous year is higher by 47.3%. Indian Rayon has paid Rs. 0.68 Crores towards a VRS at its Rayon division. In the corresponding quarter of the previous year the brand had made an exceptional profit of Rs. 4.16 Crores on the Sale of its Global Export division (Rs. 4.01 Crores) and other investments (Rs. 0.15 Crores).