BackAditya Birla Nuvo’s March profit drops 11%
The firm's net profit fell to Rs176.13 crore in the three months ended March from Rs198.87 crore a year earlier
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Mumbai: Aditya Birla Nuvo Ltd (ABNL) reported an 11% drop in fourth quarter profit, mainly on account of higher tax and finance expenses.
Net profit, including those of its units, fell to ₹ 176.13 crore in the three months ended 31 March from ₹ 198.87 crore a year earlier, the company said in a statement on Tuesday.
A Bloomberg poll of analysts had pegged net sales at ₹ 7,133.8 crore and net profit at ₹ 280.7 crore.
Revenue rose 1.66% to ₹ 7,111.83 crore from ₹ 6,995.51 crore a year ago.
The revenue from the fashion and lifestyle business rose 18% from a year earlier.
The company plans to invest ₹ 100 crore in its Pantaloons business.
Shares of Aditya Birla Nuvo gained 0.89% to close at ₹ 1,243.10 on Tuesday on BSE, while the exchange’s benchmark Sensex gained 0.06% to close at 24,376.88 points.
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