Aditya Birla Nuvo posts Q1 results

Mumbai, India - Aditya Birla Nuvo has posted record sales for the three months ending 30 June, 2006. The group reported consolidated turnover up by 88 percent on the same quarter a year previously. Overall sales were Rs 14591 million (Euro 245 million)

The company's carbon black division recorded sales of Rs 1751 million, and a volume of 44 475 tonnes, compared with Rs 1222 million and 41 000 tonnes a year earlier.

In a statement, Aditya Birla said, "Operating profits [in the carbon black division] are higher by 58.0 per cent at Rs.348.7 million. Total volumes rose by 8.5 per cent to 44,475 tons led by the strong growth in the auto sector. While the company is pursuing environmental clearance for a 55,000 tpa brownfield expansion, the division is also exploring possibilities to set up a greenfield project of 60,000 tpa in Western India.

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Press release from Aditya Birla