AB Nuvo’s Q4 profit down 42%

Aditya Birla Nuvo, announced its consolidated fourth quarter results. ABNL,

which has interest in financial services to carbon black, reported a 42 per cent drop in its consolidated net profit to Rs 170 crores for the fourth quarter ended March 31, as it paid highest interest for loans. The consolidated revenue for the quarter grew almost 15 per cent to Rs 5,994 crores from Rs 5,215 crores in the same quarter last year. For the full fiscal, 2012, ABNL’s consolidated net profit rose 8.6 per cent to Rs 890 crores from Rs 820 crores last year. Consolidated revenue for the year grew by 20 per cent to Rs 21,840 crore from Rs 18,188 crore last year. EBITDA at Rs 3,259 crores reflects a 21 per cent growth. Net profit at Rs 890 crores is up by 8 per cent.

The financial services business of Aditya Birla Nuvo saw its operating profit rise 27 per cent due to higher number of subscribers in life insurance, asset management, NBFC and broking businesses. Aditya Birla Private Equity, which is also a division under the financial services business, launched a second fund, taking the total funds under its management to Rs 1,179 crores.

Its retail channel achieved double digit like to like stores sales growth. Aditya Birla Nuvo, which through Madura Fashion & Lifestyle, controls apparel brands such as Allen Solly, Louis Philippe, Van Heusen and Peter England crossed the Rs 2,200 crores revenue mark – almost doubling its revenue size in just two years. Its key brands continued to outperform the industry. Led by strong sales growth and improved product mix, EBITDA shot up by 46 per cent to Rs 198 crores. It recently acquired a majority stake in Pantaloon Retail, which is expected to allow them to cater to value seeking customers at the lower segment and double group’s retail space from 1.6 million sq. ft. to 3.65 million sq. ft. with the combined entity’s turnover going up almost 80 per cent. Pantaloons’ Rs 1,700 crores turnover will add to Madura’s Rs 2,145 crores top line.