Aditya Birla Nuvo Q3 profit up 28% at Rs 323 cr

Posted Rs 252.39 cr net profit in the same period previous fiscal

Aditya Birla Nuvo today reported 28.05% increase in its consolidated net profit at Rs 323.21 crore for the third quarter ended December 31, 2012.

The company, a part of Kumar Mangalam Birla-led group, had posted a net profit of Rs 252.39 crore in the same period of the previous fiscal.

Consolidated net sales of the company rose to Rs 6,234.74 crore in the third quarter from to Rs 5,658.17 crore in the corresponding period of 2011-12, the company said in a filing to the BSE.

"Given the current economic environment, which is marked with moderation in GDP growth, high interest rates and inflation, Aditya Birla Nuvo has registered strong earnings," ABNL Managing Director Rakesh Jain said.

Shares of the company were trading at Rs 1,054 on BSE in late afternoon trade, up 0.45% from its previous close.