Aditya Birla Nuvo's Q1-FY'12 net zooms 70 per cent to Rs253 crore

Aditya Birla Nuvo Limited (ABNL) has reported a 70 per cent surge in its fiscal first quarter (April-June 2011-12) at Rs253 crore against a net profit of Rs149 crore.

Revenues grew 24 per cent to Rs4,767 crore during the first quarter of the 2011-12 financial year from Rs3,857 crore during the year-ago quarter.

The company posted strong growth in EBITDA of Rs808 crore during April-June 2011-12 against Rs556 crore during the previous-year quarter. This is the tenth consecutive quarter that the company has been posting gains.

"Aditya Birla Nuvo continued its profitable growth journey having strengthened market positioning and delivered robust growth across its businesses. We remain focused to capture opportunities across the businesses to achieve the next higher level of growth," Rakesh Jain, managing director of the company, said.

"Continuous pursuit of profitable growth across the businesses is reflecting in the strong financial results. Earnings displayed strong growth trend for 10th consecutive quarter. We are committed to maintain this trend of superior performance while creating value for all the stakeholders," Sushil Agarwal, whole time director and CFO, said.

Group company Aditya Birla Financial Services (ABFS) posted consolidated revenue of Rs1,330 crore, a growth of 4 per cent over the previous year. However, the company's earnings before tax grew 2.5 times to Rs11 crore during the April-June 2011 quarter from Rs78 crore in the similar quarter of the previous year.