Murugappa Group operating profit up 11% at Rs 2,921 cr in FY15

Chennai-based Murugappa Group has registered a growth of 11 per cent in its operating profit at Rs 2,921 crore in financial year 2014-15.
The company's operating profit or Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) was at Rs 2,627 crore in 2013-14, it said in a statement.
"Murugappa Group recorded a growth of 11 per cent, clocking a turnover of Rs 26,926 crore during 2014-15," it added.
In the last fiscal (2013-14), it had registered a turnover of Rs 24,350 crore.
"(FY) 2014-15 was quite a difficult year. But, in this period we grew. We recorded turnover of Rs 26,926 crore, up by 10.57 per cent from the previous year," Murugappa Group Vice-Chairman M M Murugappan told reporters here.

"We focused on cash-flow, consolidation and our capacities were utilised better. We prepared for next phase of growth", he added.

Profit Before Tax and Extra Ordinary Items (PBT excluding EOI) was Rs 1,780 crore, up from last year's Rs 1,415 crore, registering a growth of 26 per cent.
Murugappa Group has varied business interests and its group companies are EID-Parry (India), Coromandel International, EID-Parry (India), Tube Investments of India, Carborundum Universal, Cholamandalam Investment and Finance Company, and Cholamandalam MS General Insurance Company Limited.
Meanwhile, following charges of insider trading by Sebi, industrialist A Vellayan had late last month stepped aside as Chairman of diversified Murugappa Group as also from Coromandel International and EID Parry.

However, rejecting the charges, the group said Sebi action was based on mere suspicion and Vellayan would take necessary legal action to defend his reputation.