Aditya-Birla Group controlled textile company Indian Rayon and Industries has posted a 47.3% increase in its net profit for the first quarter ended June 30, 2005 at Rs 30.75 crore as compared to Rs 20.87 crore in the corresponding quarter of the previous fiscal.The company's turnover during the reporting quarter increased 16.6% to Rs 485.08 crore compared to Rs 416.12 crore in June 2004, it said in a statement today.During the quarter, the company paid Rs 0.68 crore towards a voluntary retirement scheme (VRS) at its Rayon division, it added.
