The Hindu Business Line : Aditya Birla Nuvo Q4 net up 13%, sales grow 31%

Mumbai, April 30 Aditya Birla Nuvo reported a 13 per cent growth in its fourth quarter standalone net profit at Rs 70.5 crore, against Rs 62.3 crore in the same year-ago quarter.

Net sales grew by 31.5 per cent to Rs 1,130.7 crore (Rs 859.6 crore). The company’s operating profit was up 25 per cent, to Rs 180 crore (Rs 143.8 crore).

The consolidated revenues for the financial year ended March 31 rose by 45 per cent to Rs 12,134 crore (Rs 8,366.8 crore).

However, the consolidated net profit for the year dipped by 46 per cent to Rs 150.8 crore (Rs 280.9 crore), chiefly impacted by higher losses in the life insurance business.

Net losses of the life insurance business rose to Rs 445.3 crore from Rs 139.7 crore, largely due to the growing share of new business premium. However, revenues grew by 94 per cent to Rs 4,012 crore (Rs 2,068 crore).

Net losses from the BPO business, at Rs 88.9 crore, also widened; whereas pre-launch expenses on stores in the apparel retail business lowered the profitability of the garments division. The garment business revenues, however, grew by 24 per cent with 115 new exclusive brand outlets launched during the year.

The telecom business registered a rise of 54 per cent in revenues, at Rs 6,720 crore. The scrip closed at the BSE on Wednesday at Rs 1,450.25 against the previous day’s close of Rs 1,491.50.

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