Journalism of Courage
Premium
This is an archive article published on May 15, 2012
AB Nuvo Q4 net down 42
The company,owned by Aditya Birla group,reported a Rs 294 cr net profit in same period last year.
Written by Fe Bureau
Mumbai | May 15, 2012 03:41 PM IST
2 min read
2 min read
Aditya Birla Nuvo Ltd or ABNL,which has interest in financial services to carbon black,Tuesday reported a 42 drop in its consolidated net profit to Rs 170 crore for the fiscal fourth quarter ended March 31,as it paid highest interest for loans avialed to purchase third generation airwaves or spectrum and higher depreciation.
The company,owned by the Aditya Birla group,reported a Rs 294 crore net profit in the same period previous year.
The rise in depreciation and interest costs primarily relating to 3G investments in the telecom business has constrained net profit, the company said in a statement.
Consolidated revenue for the quarter grew almost 15 to Rs 5,994 crore from Rs 5,215 crore in the same quarter last year.
ABNL has posted strong results considering the testing macro-economic scenario and the earnings pressure on some of its businesses, said Sushil Agarwal,wholetime director and chief financial officer,ABNL. 8220;The promoter infusion will further strengthen the companys balance sheet to support future growth. For the full fiscal 2012,ABNLs consolidated net profit rose 8.6 to Rs 890 crore from Rs 820 crore last year. Consolidated revenue for the year grew by 20 to Rs 21,840 crore from Rs 18,188 crore last year. On Tuesday afternoon,ABNLs shares were trading 2.29 lower on the BSE at Rs 809.90.
Advertisement
Live Blog
PHOTOS
Top Stories
Advertisement
Must Read
Advertisement
Buzzing Now
- 01
- 02
- 03
- 04
- 05
Advertisement