Aditya Birla Nuvo posted strong growth in its revenue at Rs. 5,715 crore (consolidated) for the third quarter ended December 31, 2011, against Rs. 4,564 crore in the same period in the previous year. The net profit dropped by 8.2 per cent to Rs. 252.39 crore from Rs. 274.85 crore. The decline in profit was due to higher depreciation and interest costs relating to 3G investments in the telecom business.
Dr. Rakesh Jain, Managing Director, said “the company continues to post strong earnings despite the difficult macro-economic environment. While some of the businesses did get affected due to sector-specific challenges, other businesses supported the overall earnings growth of the company. This reflects the strength of its conglomerate model.”
Birla Sun Life Insurance and Birla Sun Life Asset Management improved their market rankings to reach the 4th position during the year. Aditya Birla Finance has scaled its book size growing year-on-year by 86 per cent. Aditya Birla Private Equity has raised its second fund, taking its total funds under management to Rs. 1,179 crore. During the quarter, Aditya Birla Money has enhanced its equity broking market share, year-on-year, from 0.32 per cent to 0.34 per cent and commodity broking share from 0.24 per cent to 0.43 per cent.
The general insurance advisory business has posted a strong 54 per cent growth in its premium placement during the quarter. During the quarter, Birla Sun Life Asset Management Company improved its year-on-year ranking from 5th to 4th and enhanced its market share from 8.5 per cent to 8.9 per cent. Its total average assets under management stood at Rs. 63,789 crore.
IDEA Cellular continued to gain revenue market share and its quarterly revenue expanded by 27 per cent to Rs. 5,020 crore. Earnings growth was primarily driven by a strong 22 per cent growth in total minutes on network. The net profit was lower at Rs. 201 crore (Rs. 243 crore) due to higher depreciation/amortisation and interest costs relating to 3G investments coupled with higher deferred tax. Madura Fashion and Lifestyle business continued to scale up its retail presence to strengthen its leadership position across its power brands namely Louis Philippe, Van Heusen, Allen Solly and Peter England. It launched 69 exclusive brand outlets (EBOs) during the quarter to reach 1,082 spanning across 1.6 million square feet. Its revenue grew by 17 per cent to Rs. 590 crore.
3:2 bonus from Oil India
Oil India will be capitalising reserves from securities premium account and issuing bonus shares in the ratio of three shares for every two equity shares held. The company has posted a net profit of Rs. 1,013.98 crore for the quarter ended December 31, 2011 as compared to Rs. 907.98 crore in the year-ago period. Total income has risen to Rs. 2,965.38 crore from Rs. 2,750.75 crore. It has also declared a second interim dividend of Rs. 10 per share.
The Apollo Hospitals Group has reported 55 per cent growth in its net profit at Rs. 60.50 crore (consolidated) for the third quarter ended December 31, 2011, against Rs. 39 crore in the same period previous year. Revenues grew 19.5 per cent to Rs. 802.90 crore (Rs.672.10 crore. For the nine months ended December 30, 2011, the net profit has grown by 28.4 per cent to Rs. 170.10 crore from Rs. 132.40 crore in the year-ago period. Revenues went up by 20.7 per cent to Rs. 2,311.10 crore (Rs. 1,914.90 crore).
Dr. Prathap C Reddy, Chairman said, “We are pleased to report sustained progress in revenues and profitability during the quarter. Growth rates in the standalone entity as well as at the consolidated level have been equally strong indicating that all our businesses are contributing to this performance”.