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Mumbai, July 30

Aditya Birla Nuvo declared a net profit of Rs 26 crore down by 53 per cent from Rs 56 crore of the same quarter last year. The turnover decreased by 5 per cent to Rs 740 crore against Rs 783 crore of the same period last year. The total income fell by 6 per cent to Rs 748 crore (Rs 799 crore).

The fall in standalone figures of the company was due to the transfer of contract export business to a wholly owned subsidiary on July 1, 2006 and a planned shut down at the fertiliser plant for 42 days for maintenance and de-bottlenecking, said a company release. The consolidated net profit increased by 50 per cent to Rs 99 crore. The consolidated figures include the profits of the garments, rayon, carbon black, textiles, and insulators business among others.

The telecom company IDEA Cellular grew by 64 per cent, consolidating its subscriber market share from 14.9 per cent at the end of March, to 15.4 per cent at the end of June. Revenues jumped by 64 per cent to Rs 1,477 crore for the telecom company. - Our Bureau

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Aditya Birla Nuvo Q1 net down 53%

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