*Aditya Birla Nuvo* on a consolidated basis swung to a net loss of Rs 1,564.40 million for the quarter ended Dec. 31, 2008 as against a net profit of Rs 301.70 million for the quarter ended Dec. 31, 2007. Consolidated net sales rose by 16.99% to Rs 34,290.5 million from Rs 29,311.1 million of which telecom and life insurance business contributed significantly
The profitability of the company was strained due to gestating impact of its aggressive growth initiatives bunched together. The profit was also hampered due to global economic slowdown impacting India The company added that the nature of life insurance business where new business premium, though profitable in the long run, caused the strain in the first year due to the accounting procedure. The company disclosed a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 95.11% to Rs 41.10 million from Rs 840.10 million in the same quarter last year. Net sales for the quarter rose 9.04% to Rs 11,966.40 million, while total income for the quarter rose 9.12% to Rs 11,996.60 million, when compared with the prior year period. The company posted earnings of Rs 0.43 a share during the quarter, registering 95.22% decline over previous year period. *Quarterly Results - Standalone (Rs in mn)* *As at* *Dec - 08* *Dec - 07* *%Change* *Net Sales* 11,966.40 10,974.30 9.04 *Net Profit* 41.10 840.10 (95.11) *Basic EPS* 0.43 9 (95.22) During the quarter, the operating margin of the company declined by 830.94 basis points to 7.23% compared with the previous year period. Interest cost increased 90.59% to Rs 727.50 million while depreciation cost rose 13.28% to Rs 420.50 million over previous year period. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
