Aditya Birla Nuvo Q4 net profit at Rs 327 crore
Revenue from other financial services grew by 30% to Rs 989.9 crore.
Diversified firm Aditya Birla Nuvo on Friday reported a consolidated net profit of Rs 326.69 crore in the fourth quarter ended March 2016. The company had posted a net profit of Rs 331.63 crore in the January-March quarter of 2014-15.
Its net sales during the quarter under review stood at Rs 6,318.41 crore as against Rs 6,957.32 crore in the year-ago period.
The results are not comparable due to demerger of the company's branded apparel business Madhura into Pantaloons with effect from April 1, 2015, and 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, Aditya Birla Nuvo (ABNL) said in a BSE filing.
During the quarter, its consolidated revenue from telecom services was Rs 2,201.12 crore, up 12.60%, while revenue from the life insurance business segment rose 11.76% to Rs 2,039.18 crore.
Revenue from other financial services grew by 30% to Rs 989.9 crore. For the full fiscal, ABNL's consolidated net profit stood at Rs 1,885.76 crore while it was Rs 1,415.5 crore in 2014-15.
The company reported net sales of Rs 22,695.86 crore in 2015-16 while it stood at Rs 26,114.46 crore in the preceding year. The board of directors of the company has recommended a dividend of Rs 5 per equity share of the face value of Rs 10 each for the 2015-16 fiscal.
In a separate filing, Aditya Birla said its board has "approved a proposal for increase in investment limits by RFPIs/Flls from the existing 24% of the paid-up equity share capital to up to 30% of the paid-up equity share capital of the company".
The company's shares were trading 3.22% lower at Rs 1,003.50 on BSE in the pre-close session.