ABNL net profit down 8.40 percent in September quarter

Aditya Birla Nuvo (ABNL), the holding company of Aditya Birla Group, has reported a 8.40 percent decline in consolidated net profit at Rs 414.04 crores for the quarter ended September 30, 2015. The company had reported a net profit of Rs 452.02 crores in the corresponding period a year ago. ABNL's net sales rose by 11.48 percent to Rs 7,237.88 crores against Rs 6,492.06 crores in the same quarter last year, the company said in a regulatory filing.

During the quarter, revenue from branded apparels and accessories was at Rs 1,669.75 crores, an increase of 8.20 percent while income from textiles grew by 13.83 percent to Rs 399.12 crores. Earnings from other financial services increased by 36.49 percent to Rs 853.11 crores.

Aditya Birla Group has been witnessing considerable rise in contribution of fashion retailing business, with the combined entity’s revenue growing by 40 percent and EBITDA by 43 percent, in the past two years. As per the announcement made in May this year, the Aditya Birla group’s apparel businesses and another group firm Madura Garments Lifestyle Retail Company (MGLRCL) was merged into listed firm Pantaloons Fashion & Retail (PFRL), which was to be renamed as Aditya Birla Fashion and Retail (ABFRL).