Aditya Birla Nuvo Q4 revenue rises 8.5 per cent to Rs4,478 crore
10 May 2010
Aditya Birla Nuvo, a highly diversified company with interests in garments, insurance, telecom and ITES, said its fourth quarter revenue was up 8.5 per cent to Rs4,478 crore.
According to chief financial officer, Sushil Agarwal, a large chunk of the company's profitability came from financial services while there was a drop of Rs44 crore in the company's telecom business.
He added that the company's EBIDTA (income from operations) for the full year at Rs1,686 crore had been the highest ever. He added that EBIT or the earnings before interest and tax stood at Rs684 crore pointing to huge cash generation.
Aditya Birla Financial Services, Aditya Birla Nuvo's finance arm said its net sales surged 23 per cent to Rs5,850 crore for the full year ended 30 March 2010 and its assets under management increased 42 per cent to Rs82,140 crore during the period. The company recently closed a private equity fund having a Rs881 crore corpus.
The garments segment saw the company's revenue grow 12 per cent to Rs1,251 crore due to higher retail sales. Its EBITDA stood at Rs7 crore as compared to a loss of Rs154 crore in the year-ago period.
Agarwal said that the company's capex plan for the year is Rs300 crore and the priority would be more towards debt reduction using cash accruals and proceeds from the preferential allotment to promoters.
