Aditya Birla Nuvo Q4 net loss widens to Rs 141 cr

Aditya Birla Nuvo, a part of the Aditya Birla group, today said its net loss has widened to Rs 141.15 crore in the fourth quarter ended March 31, 2009.

The company had a net loss of Rs 21.84 crore in the same quarter ended March 31, 2008, Aditya Birla Nuvo said in a filing to the Bombay Stock Exchange.

The net income from operations of the company rose to Rs 4,237.87 crore for the quarter under review as against Rs 2,912.65 crore in the same quarter last fiscal.

For the year ended March 31, 2009, the company has posted a net loss of Rs 430.52 crore, while the same was at Rs 150.78 crore in the same period last fiscal.

The board of directors has proposed a dividend of Rs 4 a piece (on shares of face value of Rs 10 each) at its meeting held on April 28.

Further, in a separate BSE filing, the company has said it has accepted resignation of Adesh Gupta, the whole-time director and chief financial officer of the firm, with effect from May 1. It has appointed Rakesh Jain as the managing director of the company with effect from July 1.

Besides, the board has approved appointment of Pranab Barua as the whole-time director, Santrupt Mishra as head, carbon black business of the company and Sushil Agarwal as chief financial officer with effect from May 1.

Shares of Aditya Birla Nuvo were trading at Rs 553.95, down 5.38 per cent on the BSE.