Aditya Birla Nuvo Q2 profit increases 55 percent

Business

Aditya Birla Nuvo Q2 profit increases 55 percent

by Sujata Sachdeva
17 Nov 2014
Aditya Birla Nuvo (ABNL) reported 55.79 percent jump in consolidated net profit at Rs 452.05 crores for the quarter ended September 30, 2014. It had reported a net profit of Rs 290.15 crores in the July-September quarter of 2013-14 fiscal, Aditya Birla Nuvo ( ABNL) said in a BSE filing.

ABNL's net income during the second quarter of 2014-15 increased marginally to Rs 6,597.25 crores from Rs 6,492.48 crores in the year-ago period. Its consolidated Q2 revenue from branded apparels and accessories increased 18.46 percent to Rs 1,543.15 crores as against Rs 1,302.60 crores of the same quarter last fiscal. Revenue from textiles grew by 12.72 percent to Rs 350.61 crores from Rs 311.03 crores.

After acquiring a majority stake in Pantaloons fashion chain, Aditya Birla Nuvo will invest Rs 150 crores this fiscal to add around 20 stores. In an investor's update, Pantaloons' parent company Aditya Birla Nuvo said, “Full year capex (capital expenditure) guidance for Pantaloons stands at Rs 150 crores towards addition of 18-20 new stores to reach 100 stores mark.”