Aditya Birla Nuvo Q1 net up 24 per cent at Rs 331.33 cr

Aditya Birla Nuvo has reported a 24.16 per cent increase in net profit for the first quarter ended June 30, 2013, driven by strong performance from all its business verticals.

The company has reported a profit of Rs 331.33 crore against Rs 266.84 crore in the same quarter a year ago.

In a filing to the Bombay Stock Exchange, Aditya Birla Nuvo said its net sales during the quarter under review were at Rs 5,680.14 crore, an increase of 8.11 per cent against Rs 5,253.58 in the corresponding period last year.

"Amidst the challenging marco-economic scenario, ABNL has posted strong earnings growth. The company is competitively well positioned in most of its business," the company said in a statement.

During the quarter, revenue from branded apparels and accessories were at Rs 982.06 crore, an increase of 87.41 per cent while revenue from textiles grew marginally by 2.84 per cent at Rs 312.84 crore.

Revenue from telecom was at Rs 1,651.23 crore, an increase of 18.57 per cent.

Life insurance business segment contributed Rs 895.16 crore to the revenue, a decline of 17.75 per cent while revenue from other financial services increased by over two fold to Rs 474.47 crore.

During the quarter, revenue from IT/ITES grew by 9.17 per cent at Rs 657.55 crore.

Overall expenses in the quarter were at Rs 5,053.23 crore, an increase of 5.95 per cent compared with Rs 4,769.4 crore in the same quarter last year.