Aditya Birla Nuvo net profit at Rs 149 crore

Aditya Birla Nuvo, a part of the Aditya Birla Group, today posted a consolidated net profit of Rs 149 crore for the quarter ended June, compared to a consolidated net loss of Rs 35 crore in the previous corresponding quarter.

Net sales grew to Rs 3,852 crore from Rs 3,252 crore last year, up by 18.45 per cent.

The $3.5-billion conglomerate, having presence in financial services, telecom, information technology and information technology-enabled services, and garments, registered a rise of 66 per cent in its earnings before interest, taxes, depreciation, and ammortisation at Rs 556 crore, against Rs 336 crore last year.

“Financial services business led the top line as well as the bottom line growth. Branded apparels, accessories and manufacturing businesses also contributed significantly to the earnings,” said the company in a statement.

The financial services business posted a net profit of Rs 54 crore, compared to a loss of Rs 100 crore in the corresponding quarter last year.

On the Bombay Stock Exchange, the company’s shares today closed at Rs 772.35, down by 0.35 per cent.