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Aditya Birla Nuvo has reported a 20 per cent fall in net profit at ₹264 crore in the June quarter as against ₹331 crore logged in the same period last year.
Net sales were up 8 per cent at ₹6,127 crore (₹5.680 crore).
The company registered a net loss of ₹23 crore from a one-time provision of Aditya Birla Minacs.
Excluding IT-ITeS business, which was divested with effect from May 9, revenue of the company was up by 16 per cent and net profit (before one-off items) was up by 27 per cent, said the company in a press release on Tuesday.
NBFC activitiesAditya Birla Nuvo subsidiary, ABNL Investment, has voluntarily surrendered the Non-Banking Finance Company (Non-Accepting Deposits) registration to the Reserve Bank of India, as the income from its non-financial assets is more than the income arising out of the financial assets.
The company has said that it does not intend to carry on the business of NBFC activities.
Aditya Birla Financial Services (ABFS) registered 21 per cent growth in funds under management to ₹1,34,216 crore. Its consolidated revenue grew 21 per cent to ₹1,655 crore and it posted earnings before tax of ₹220 crore.
Market shareABFS gained market share across its Life Insurance, Asset Management, Broking and General Insurance Advisory businesses.
The company’s fashion and lifestyle business opened 66 stores, taking the total outlets under its fold to 1,791, spanning 4.4 million sq ft.
Its revenue rose by 18 per cent to ₹1,528 crore and EBITDA by 53 per cent to ₹109 crore.
Madura achieved revenue growth of 23 per cent to ₹787 crore and EBITDA soared by 66 per cent to ₹62 crore. EBITDA margin stands expanded by 200 basis points. Pantaloons’ revenue grew by 12 per cent to ₹386 crore.
ABNL has earmarked a capital expenditure plan of around ₹500 crore for this fiscal, including investment of about ₹350 crore in the financial services business, besides subscribing to the rights issue of Pantaloons.
Shares of the company were up one per cent at ₹1,430 on Tuesday.
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