Aditya Birla Nuvo Q2 net up 42%

Kumar Mangalam Birla-led Aditya Birla Nuvo saw its net profit surge 42% year-on-year at Rs 304 crore in the July-September quarter against Rs 214 crore in the year-ago period. Net sales rose 12% at Rs 5,992 crore against Rs 5,349 crore a year ago.

Riding on the back of a strong growth in its agriculture and apparel business, Kumar Mangalam Birla-led Aditya Birla Nuvo (ABN) saw its net profit surge 42% year-on-year at Rs 304 crore in the July-September quarter against Rs 214 crore in the year-ago period.

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Net sales rose 12% at Rs 5,992 crore against Rs 5,349 crore a year ago.

Manufacturing sales rose 33% at Rs 1,947 crore while agriculture sales were up 92% at Rs 864 crore.

"While some businesses are witnessing earnings pressure, most are contributing to profitable growth," said Sushil Agarwal, CFO, AB Nuvo.