Aditya Birla Nuvo (ABNL), on Tuesday, reported a 5 per cent rise in net profit for the quarter ended June 30, 2012, at Rs.267 crore on 11 per cent higher revenues of Rs.5,323 crore. The conglomerate, which is present across diverse sectors, reported a 14 per cent higher operating profit of Rs.915 crore.
In a statement, Rakesh Jain, Managing Director, said, “while industry growth has moderated in few of the sectors where ABNL operates, the company continues to outperform in most of the businesses.’’
The statement said Aditya Birla Financial Services, with more than Rs.94,600 crore funds under management, reported consolidated revenue of Rs.1,364 crore, and earnings before tax of Rs.204 crore. The mobile telecom operator Idea Cellular with a customer base of 117 million reported 22 per cent higher revenue of Rs.5,501 crore and a 32 per cent higher net profit of Rs.234 crore.
Revenue of Madura Fashion & Lifestyle grew 8 per cent to Rs.524 crore and a flat operating profit of Rs.22 crore. The IT venture, Aditya Birla Minacs, saw revenue grow 27 per cent to Rs.599 crore and operating profit grew 50 per cent to Rs.57 crore.
ABNL’s manufacturing business’ revenue grew 8 per cent to Rs.1,503 crore but operating profit was 8 per cent lower at Rs.190 crore. While ABNL’s textiles and rayon businesses posted record quarterly earnings, in a statement, Sushil Agarwal, Wholetime Director and CFO, ABNL, said, the company achieved “sound growth despite the planned maintenance shutdown in the agri-business and impact of dumping from China in the carbon black and insulators business.”