Aditya Birla Nuvo Q1 net up over 50% at Rs 396.66 crore

Aditya Birla Nuvo Ltd (ABNL) today reported 50.42% increase in net profit to Rs 396.66 crore for the first quarter ended June 30, 2015.

The company had posted a net profit of Rs 263.7 crore in the same quarter a year ago.

Aditya Birla Nuvo's net sales during the quarter under review were at Rs 6,704.86 crore, an increase of 9.44% as against net sales of Rs 6,126.33 in the corresponding period last year, the company said in a BSE filing.

During the quarter, revenue from branded apparels and accessories was at Rs 1,320.91 crore, an increase of 14.39% while income from textiles grew by 7.56% at Rs 402.9 crore.

The telecom segment contributed Rs 2,046.78 crore to the company's income, an increase of 8.90% while life insurance business witnessed an increase of 10.67% in revenue at Rs 1,182.07 crore.

Earnings from other financial services increased by 42.97% to Rs 840.72 crore.

Aditya Birla Nuvo shares were trading 0.62% down at Rs 2,225 apiece during pre-close session on the BSE.