Aditya Birla Nuvo Q2 net down 8% at Rs 414 cr

Aditya Birla Nuvo Ltd (ABNL), the holding company of Aditya Birla Group, today reported a 8.40 per cent decline in consolidated net profit at Rs 414.04 crore for the quarter ended September 30.
The company had reported a net profit of Rs 452.02 crore in the corresponding period a year ago.
ABNL's net sales rose by 11.48 per cent to Rs 7,237.88 crore as against Rs 6,492.06 crore in the same quarter last year, the company said in a regulatory filing.
During the quarter, revenue from branded apparels and accessories was at Rs 1,669.75 crore, an increase of 8.20 per cent while income from textiles grew by 13.83 per cent to Rs 399.12 crore.

The telecom segment contributed Rs 2,018.79 crore to the company's income, an increase of 14.14 per cent while life insurance business witnessed an increase of 12.23 per cent in revenue at Rs 1,289.97 crore.
Earnings from other financial services increased by 36.49 per cent to Rs 853.11 crore.
Aditya Birla Nuvo shares were trading 3.48 per cent down at Rs 1,972.80 in the afternoon trade on BSE.