Aditya Birla Nuvo reports net profit of Rs 327 cr in Q4

A consolidated net profit of Rs 326.69 crores in the fourth quarter was reported by Aditya Birla Nuvo, a diversified firm. In the January-March quarter of 2014-15, the company had posted a net profit of Rs 331.63 crores. Its net sales during the quarter under review stood at Rs 6,318.41 crores as against Rs 6,957.32 crore in the year-ago period.

The results cannot be compared because of the merger of the company’s branded apparel business Madura into Pantaloons with effect from April 1, 2015, as well as the divestment of Aditya Birla Minacs Worldwide to a group of financial investors, led by CX Partners and Capital Square Partners with effect from May 9, 2014.

During the quarter, its consolidated revenue from telecom services was Rs 2,201.12 crores, up 12.60 per cent while revenue from the life insurance business segment rose 11.76 per cent to Rs 2,039.18 crores. Revenue from other financial services grew by 30 per cent to Rs 989.9 crores.

For the full fiscal, ABNL’s consolidated net profit stood at Rs 1,885.76 crores while it was Rs 1,415.5 crores in 2014-15. The company reported net sales of Rs 22,695.86 crores in 2015-16 while it stood at Rs 26,114.46 crores in the preceding year.

Meanwhile, Aditya Birla Fashion and Retail Ltd (ABFRL) is planing to raise funds through issuance of Non-Convertible Debentures (NCDs) on private placement basis. The company’s board meeting to be held on May 25 “will also consider, passing of an enabling resolution for issuance and allotment of NCDs on private placement basis, in one or more tranches," it said in a BSE filing. This will be subject to the provisions of the applicable laws and requisite approvals, for requirements/operations of the company, it added.

Formerly known as Pantaloons Fashion & Retail, ABFRL has a portfolio of brands spans from luxury to super premium, premium, sub-premium to fast fashion segments. It has over 7,000 points of sale across over 375 cities and towns, which include more than 2,000 exclusive ABFRL brand outlets. ABFRL was formed after the consolidation of the branded apparel businesses of Aditya Birla Nuvo Ltd (ABNL's) Madura Fashion and ABNL's subsidiaries Pantaloons Fashion & Retail as well as Madura Fashion & Lifestyle in May 2015.