New Delhi: Diversified company Aditya Birla Nuvo on Thursday reported a 56.79 per cent decline in consolidated net profit at o Rs 305.15 crore for the fiscal first quarter that ended on June 30, 2016.
The company had posted a net profit of Rs 706.23 crore for the corresponding period a year ago.
Total income from operations was up marginally at Rs 3,194.36 crore in the period under review as against Rs 3,188.22 crore in the corresponding period a year ago, Aditya Birla Nuvo (ABNL) said in a filing to the BSE.
"...net profit at Rs 305 crore de-grew year-on-year due to reduction of ABNL's share in Idea's net profit by Rs 148 crore. Net profit of Idea Cellular declined from Rs 855 crore to Rs 220 crore due to rise in interest and amortisation costs pertaining to the spectrum acquired in the earlier years," ABNL said.
Income from other financial services was up 43.32 per cent at Rs 918.48 crore during the quarter under review as against Rs 640.82 crore a year ago.
Textiles segment revenue was down 14.70 per cent at Rs 351.59 crore in the quarter under review as against Rs 412.19 crore in the year-ago period.
Similarly, revenue from agri-business was down 25.41 per cent at Rs 500.96 crore in the quarter under review as against Rs 671.66 crore in year-ago period.
Shares in ABNL, on Thursday, settled 3.5 per cent higher at Rs 1,565.70 apiece on the BSE, whose benchmark Sensex index finished up 0.31 per cent.
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