Aditya Birla Nuvo net up 5% at Rs 267 cr

Aided by growth in financial service and telecom business, Aditya Birla Nuvo on Monday posted a 5.5% year-on-year rise in its consolidated net profit at Rs 267 crore for April-June quarter against R253 crore in the year-ago period. Revenue grew 11% at Rs 5,323 crore.

Aided by growth in financial service and telecom business, Aditya Birla Nuvo on Monday posted a 5.5% year-on-year rise in its consolidated net profit at Rs 267 crore for April-June quarter against Rs 253 crore in the year-ago period. Revenue grew 11% at Rs 5,323 crore.

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Idea Cellular, in which Aditya Birla Nuvo holds 25.3% stake, saw its profit growing from Rs 177 crore to Rs 234 crore. Aditya Birla Financial Services reported a 15% growth in earning before tax at Rs 204 crore.

Manufacturing segment that includes rayon, textile, carbon black and urea businesses, reported 8% growth in revenue at Rs 1,503 crore while earnings before tax was 8% down at Rs 190 crore.

The company’s shares closed 1.5% up at Rs 790 on the BSE on Monday.