Growth across all business verticals led Aditya Birla Nuvo to post a 42% increase in consolidated net profit for the second quarter ended September to R304 crore against R214 crore in the corresponding quarter last year.
The consolidated total income of the company has increased by nearly 12% to R6,084 crore against R5,438 crore in the same quarter last year.
The funds under management of Aditya Birla Financial Services (ABFS) witnessed a 14% surge and crossed the R1-lakh crore mark. ABFS? revenues stood at R1,489 crore and earnings before tax at R193 crore, a surge of 39%, said a statement from the company.
In the telecom segment, 18% growth in minutes of use aided a 15% increase in Idea?s revenues to R5,307 crore and operating margins grew by 20% to R1,434 crore.
As the company scaled up exclusive brand outlets and its like-to-like stores sales grew, revenue from the retail channel grew by 21%. The proposed acquisition of a controlling stake in Pantaloons fashion format of Future Group will give ABNL?s fashion and lifestyle business an entry into the womenswear and kidswear segments. Post demerger, the holding of ABNL, through its subsidiary, in Pantaloons will be 50.09%.
Rakesh Jain, MD, ABNL, said, ?The challenging economic environment continues to affect growth in some of the sectors where ABNL operates. Despite this, we have posted a strong growth in earnings.?
In the IT/ITeS segment, revenues of Aditya Birla Minacs grew by 31% to R628 crore and operating margins surged by 51% to R61 crore as some of the contracts in its order books got converted and added to revenues.
On the manufacturing side, revenues rose by 33% to R1,947 crore and the operating margins grew by 4% to R195 crore on the back of higher urea sales volume in agriculture segment, improved realisations and higher sales in rayon segment.
Volume growth and better realisation in the linen segment contributed to the growth in the company?s textile business.
Aditya Birla Nuvo?s share price closed 0.76% down at R921.10 on Thursday on the Bombay Stock Exchange.
