Aditya Birla Nuvo Q4 Net Profit Rises 88.28%
Aditya Birla Nuvo reported a fourth quarter profit of Rs 331.63 crore, up 88 per cent from Rs 176.13 crore during the corresponding quarter, because of strong performance at its financial services, telecom and apparels businesses.
The company is part of the Aditya Birla Group. Its businesses include financial service, insurance, brokerage, fashion, lifestyle, telecom and insulators. The company sales fell 1.3 per cent from a year ago to Rs 6,957.36 crore from Rs 7,049.56 crore during the quarter.
The company will incur about Rs 300 crore as capital expenditure for the current financial year and invest Rs 600 crore in the financial service business, the release said.