Aditya Birla Nuvo surged 4.78% to Rs 1,181 at 11:41 IST on BSE after consolidated net profit rose 24.16% to Rs 331.33 crore on 7.92% growth in revenue to Rs 5744.54 crore in Q1 June 2013 over Q1 June 2012.
The Q1 result was announced on Friday, 9 August 2013. The stock market was closed on that day on account of Ramzan Id.
Meanwhile, the S&P BSE Sensex was up 151.20 points or 0.8% at 18,940.54.
On BSE, 83,000 shares were traded in the counter as against average daily volume of 24,616 shares in the past one quarter.
The stock hit a high of Rs 1,183.90 and a low of Rs 1,139.70 so far during the day. The stock had hit a 52-week high of Rs 1,215.85 on 24 July 2013. The stock had hit a 52-week low of Rs 738.15 on 3 September 2012.
The stock had outperformed the market over the past one month till 8 August 2013, surging 10.25% compared with the Sensex's 2.77% fall. The scrip had also outperformed the market in past one quarter, jumping 6.96% as against Sensex's 6.01% fall.
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The large-cap company has equity capital of Rs 120.24 crore. Face value per share is Rs 10.
Aditya Birla Nuvo (ABNL) said that previous year results are not comparable viz. pursuant to its acquisition, Pantaloons business has been consolidated with effect from 1 July 2012. Also there was a slump sale of Carbon Black business with effect from 1 April 2013. Gain of Rs 24 crore and a net tax credit of Rs 41 crore have been recognized in Q1 June 2013.
Normalised for the above transactions, on a like-to-like basis, ABNL's consolidated net profit, revenue and EBITDA grew by 30%, 13% and 37% respectively in Q1 June 2013 over Q1 June 2012.
On standalone basis, ABNL's net debt to annualised EBITDA improved to 2.1 and net debt to equity improved to 0.38 compared to 3.3 and 0.53 respectively in corresponding previous year. Reduction in debt is largely on account of slump sale of Carbon Black business with effect from 1 April 2013. Proceeds of Rs 207 crore from buyback of shares by BSLI also contributed for the reduction of debt. The strengthening of the company's balance sheet will support its growth plans, going forward, ABNL said.
Over the years, Aditya Birla Nuvo has successfully ventured into the service sectors viz., financial services (life insurance, asset management, NBFC, private equity, broking, wealth management and general insurance advisory), fashion & lifestyle, telecom and IT-ITeS.
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