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Diversified firm Aditya Birla Nuvo today reported 6.62 per cent rise in consolidated net profit at Rs 368.14 crore for the quarter ended December 2014.
It had reported a net profit of Rs 345.27 crore in the October-December quarter of 2013-14 fiscal, Aditya Birla Nuvo Ltd (ABNL) said in a BSE filing.
The company’s net income during the third quarter of 2014-15 increased marginally by 1.11 per cent to Rs 6,539.35 crore from Rs 6,467.50 crore in the year-ago period.
Its consolidated Q3 revenue from branded apparels and accessories increased 9.53 per cent to Rs 1,349.22 crore from Rs 1,231.82 crore.
The company’s revenues from textiles segment grew 1.43 per cent to Rs 336.20 crore from Rs 331.46 crore, while those from telecom services increased 11.66 per cent to Rs 1,864.61 crore during Q3 this fiscal against Rs 1,669.76 crore in the same period of the previous fiscal.
Revenues from life insurance business segment also increased 24.30 per cent to Rs 1,222.40 crore from Rs 983.38 crore.
Similarly, consolidated revenues from agri-business segment, which includes fertiliser, agro-chemicals and seeds, also increased by 10.66 per cent to Rs 834.57 crore during the quarter under review against Rs 754.16 crore in Q3 of FY 2013-14.
However, revenues from rayon yarn decreased 7.03 per cent to Rs 204.20 crore during Q3 against Rs 219.65 crore in the same period of the previous fiscal.
Besides, Aditya Birla Nuvo has applied for payment bank licence in accordance with RBI guidelines.
“ABNL will be the promoter of the proposed bank, holding 51 per cent of its equity capital. Idea Cellular will hold the balance 49 per cent which may be increased to 60 per cent if permitted from time to time with regulatory approvals,” the company said in a statement.
About the outlook, the company said: “For fiscal 2014-15, ABNL has a capital expenditure and investment plan of about Rs 900 crore towards funding of growth capital requirement in financial service business. Of this, a sum of Rs 327 crore has been incurred in the first nine months.”
Shares of the company were trading 1.69 per cent down at Rs 1,713.85 per scrip during afternoon session on the BSE.
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