Aditya Birla Nuvo reports 6.62 percent increase in Q3 profit

Aditya Birla Nuvo reported 6.62 percent rise in consolidated net profit at Rs 368.14 crores for the third quarter ended December 2014 against net profit of Rs 345.27 crores in the October-December quarter of 2013-14 fiscal, the company informed in a BSE filing. ABNL's net income during the third quarter of 2014-15 increased marginally by 1.11 percent to Rs 6,539.35 crores from Rs 6,467.50 crores last year. Its consolidated third quarter revenue from branded apparels and accessories increased 9.53 percent to Rs 1,349.22 crores against Rs 1,231.82 crores in the same quarter last fiscal. The company's revenues from textiles segment grew 1.43 percent to Rs 336.20 crores from Rs 331.46 crores. However, revenues from rayon yarn decreased 7.03 percent to Rs 204.20 crores against Rs 219.65 crores in the same period of previous fiscal.

After picking majority stake in earlier Future Group-owned venture Pantaloons Fashion & Retail in 2012, Aditya Birla Nuvo has announced investment of Rs 150 crores to open 20 new outlets this fiscal to take the number of Pantaloons stores to 100.