Aditya Birla Nuvo Q3 net profit rises 7.98% to Rs 397.53 cr

Aditya Birla Nuvo (ABNL) today reported 7.98 per cent increase in consolidated net profit at Rs 397.53 crore for the third quarter ended December 2015.

The company had posted a consolidated net profit of Rs 368.14 crore in the same period in the last financial year, ABNL said in a BSE filing.

Net sales during the period stood at Rs 5,399.99 crore as against Rs 6,538.94 crore in the year-ago period, down 17.41 per cent.

Life insurance business had a revenue of Rs 1,189.55 crore as compared to Rs 1,222.4 crore in the same quarter in the last financial year, while that of telecom was at Rs 2,093.94 crore as against Rs 1,864.61 crore in the third quarter in the last financial year .

Textile business revenue during the quarter was at Rs 333.06 crore as against Rs 336.2 crore in the year-ago period, it added.

Agri business, including fertilisers, agro-chemicals and seed, had a revenue of Rs 689.34 crore as against Rs 834.34 crore.

The company said for 2015-16 it planned to invest Rs 150 crore towards capital expenditure for its divisions. ABNL also plans fund growth capital requirements of the financial services business to the tune of Rs 800 crore.

Of these capital commitments, capex of Rs 88 crore and investment of Rs 392 crore has already been done during the nine months period ended December 31, 2015, it said.

ABNL shares were trading 5.75 per cent down at Rs 775 apiece during afternoon session on the BSE.