Aditya Birla Nuvo surges on good performance in Q2

Q2 operating profit margins expanded by 230 bps to 16.78% from 14.46% in previous year quarter

Aditya Birla Nuvo has surged 5% to Rs 965 after reporting a robust 42% year-on-year (yoy) jump in its consolidated net profit at Rs 304 crore for the quarter ended September 30 on the back of good growth across all its business segments. Revenues grew 12% at Rs 5,992 crore on y-o-y basis.

“The company’s EBITDA or operating profit grew 30% at Rs 1,006 crore from Rs 744 crore, while operating profit margins expanded by 230 bps to 16.78% from 14.46% during the recently concluded quarter,” Aditya Birla Nuvo said in a statement.

Rakesh Jain, managing director of Aditya Birla Nuvo, said,”The challenging economic environment continues to affect growth in some of the sectors where the company operates. Despite this, the company has posted a strong growth in earnings.”

The stock opened at Rs 935 and hit a high of Rs 974 on the NSE. Total 174,114 shares have changed hands on the counter till early noon deals on the NSE and BSE.