Consolidated revenue of Aditya Birla Nuvo rises by 45pc

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Mumbai, Apr 30 (UNI) The consolidated revenue of Aditya Birla Nuvo Limited grew by 45 per cent from Rs 8,366.8 crore to Rs 12,134 crore in the fourth quarter of the financial year ended March 31st.

Announcing the results of the company, Managing Director Bharat Singh said that the businesses are doing well and are as per the expectations.

The growing share of new businesses in life insurance impacted profitability and the consolidated net profit without life insurance rose by 25 per cent from Rs 384.3 crore to Rs 480.3 crore, Mr Singh said.

The telecom business has grown considerably with the company setting up 8,876 new population centres covered with the launch of 14,555 cell sites in the financial year. This year the telecom section has become the 6th largest cellular operator in the country with all India market share standing at 9.4 per cent and the subscriber base in 11 operating circles at 24 million with 16.2 per cent market share.

The revenue of the garment section of the group increased by 24 per cent to Rs 1,025.8 crore from Rs 830.4 crore and the company launched 115 new exclusive brand outlets taking the controlled retail space of the company to 5.1 lakh square feet across 253 EBO's.

The company will also be opening five retail shops in the next five weeks and will also concentrate on the life style stores for men as it is more profitable, Mr Singh said.

The BPO business of the group reported revenues of Rs 1577.7 crore and ten new clients have been added.

The company has recommended a dividend of 57.5 per cent for the current year as against 55 per cent last year.

UNI JN SR AG1826

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