Aditya Birla Nuvo profit rises 17%

Riding on the back of a strong growth in agriculture and the apparel businesses, Kumar Mangalam Birla-led Aditya Birla Nuvo (ABN) on Wednesday reported a 16.8% year-on-year rise in consolidated net profit to Rs 199 crore for the quarter ended March 31, 2013 against Rs 170 crore a year ago.

Riding on the back of a strong growth in agriculture and the apparel businesses, Kumar Mangalam Birla-led Aditya Birla Nuvo (ABN) on Wednesday reported a 16.8% year-on-year rise in consolidated net profit to Rs 199 crore for the quarter ended March 31, 2013 against Rs 170 crore a year ago.

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The company’s consolidated income from operations stood at Rs 6,907 crore during the fourth quarter, a 16.6% surge against the same period last year.

For the financial year ended in March 2013, ABN posted a consolidated profit of Rs 1,059 crore against Rs 890 crore in the previous fiscal year.

During the quarter, its agri business delivered a 22.6% increase in sales to Rs 650 crore, while its fashion business registered a 13% rise in sales to Rs 637 crore.

The company’s board of directors recommended a dividend payment of Rs 6.50 per equity share of Rs 10 each and Rs 6 per preference share of Rs 100.