Aditya Birla Nuvo net profit jumps 50% to Rs 397 crore

Company's revenue rose 10% to Rs 6,820 crore from Rs 6,207 crore

Aditya Birla Nuvo, the holding company of Aditya Birla Group, today reported a net profit of Rs 396.66 crore for the quarter ended June, up 50.42 per cent from Rs 263.7 crore a year ago.

The company said its revenue rose 10 per cent to Rs 6,820 crore from Rs 6,207 crore, while EBITDA (earnings before interest, taxes, depreciation, and amortization) jumped to Rs 1,671 crore from Rs 1,271 crore, a growth of 31 per cent.

The group flagship Idea Cellular, which is the third largest mobile operator, saw its revenue jump 16 per cent to Rs 8,795 crore.

Its market share rose to 18.2 per cent from 16.6 per cent a year ago with 166 million subscribers.

Aditya Birla Financial Services is among the top five fund managers in the country and has a diversified portfolio with 10 lines of businesses.

During the quarter, its consolidated revenue increased by 22 per cent to Rs 2,022 crore while pre-tax profit rose by 18 per cent to Rs 260 crore. The assets under management (AUM) of the company grew by 29 per cent to Rs 1,73,170 crore.

Aditya Birla Finance's advances grew 44 per cent to Rs 18,175 crore. Its gross non-performing assets (NPAs) stood at 0.84 per cent and net NPAs at 0.22 per cent. The loan book of its housing finance arm, started last October, grew to Rs 450 crore.

The insurance arm, Birla Sun Life Insurance's AUM rose by 13 per cent to Rs 30,385 crore, which helped it improve the market ranking to 4 from 5 last year, with a market share in new business premium at 8.6 per cent.

Revenue of Birla Fashion & Lifestyle, formerly Madura and Pantaloons, rose 14 per cent to Rs 1,321 crore despite lower footfalls and higher discounting.