INDIA: Indian Rayon Results Profit From Madura Acquisition
Indian Rayon and Industries of the Aditya Birla Group, grew 51 per cent in the last quarter to $81m. Madura Garments, acquired January, has set both turnover and profits aflame, having already become the biggest division of the company. Indian Rayon has four divisions : Madura Garments (now 25 per cent of company turnover), viscose filament yarn (16 per cent), textiles (25 per cent), carbon black (21 per cent), and insulators (13 per cent). A new division, insurance, has received government permission to enter this field, hitherto reserved for public sector.
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