Aditya Birla Nuvo hits 4-mth low on weak Q4 earnings

Aditya Birla Nuvo has dipped over 5% at Rs 765, its lowest level since January, on reporting 42% year-on-year (y-o-y) in net profit at Rs 170 crore in the March quarter, due to a rise in depreciation and interest costs relating to its 3G investments in the telecom business.

Revenue however, grew 15% at Rs 5,994 crore y-o-y basis. Interest cost increased by 71% to Rs 188 crore from Rs 110 crore during the recently concluded quarter.

The stock opened at Rs 795 and hit a low of Rs 755 on the National Stock Exchange. A combined 95,331 shares have changed hands on the counter in noon deals.