Aditya Birla Nuvo Q3 net down over 30% at Rs65.59 cr

Aditya Birla Nuvo has reported a lower net profit of Rs65.59 crore for the fiscal third quarter ended 31 December 23017 against a net profit of Rs94.61 crore for the comparable quarter of the previous fiscal.

Total income for the quarter decreased to Rs1,251.53 crore for the quarter ended 31 December 2016 from Rs1,459.18 crore in the quarter ended 31 December 2015, un-audited results for the quarter showed

The group has posted a net profit after tax and minority interest of Rs206.23 crore for the quarter ended 31 December 2016 compared to Rs318.02 crore for the quarter ended 31 December 2015.

Total Income has increased to Rs3,503.68 crore for the quarter ended 31 December2016 from Rs3,223.03 crore for the quarter ended 31 December 2015.

EBITDA surged by 22 per cent to Rs955 crore driven by financial services business. Net profit at Rs206 crore de-grew year-on- year due to the reduction of ABNL's share in Idea's net profit by Rs242 crore.

Net profit of Idea Cellular has been impacted due to free voice and mobile data services by the new entrant in the sector coupled with higher interest and amortisation costs.

Aditya Birla Financial Services is one of the largest non-bank financial services players and ranks among the top 5 fund managers in India (excluding LIC). Its assets under management (AUM) rose by 24b per cent to Rs229,500 crore. Its quarterly revenue grew 27 per cent to Rs2,417 crore and earnings before tax by 19per cent to Rs278 crore.

Aditya Birla Finance Ltd. (ABFL) ranks among the top 7 private NBFCs in India (excluding housing finance companies). Its lending book has expanded by 34 per cent to Rs29,852 crore, ahead of the competition.

ABFL has created a well-diversified portfolio. The quality of portfolio remains sound with gross NPA at 0.69 per cent and net NPA at 0.33 per cent. It reported a healthy average return on equity at 16.6 percent per annum and average return on asset of 2.23 per cent per annum. Led by equity infusion and strong internal accruals, its net worth has risen by 50 per cent to Rs4,238 crore.

Aditya Birla Housing Finance Ltd has more than doubled its loan book to Rs3,235 crore as of December 2016 from Rs1,232 crore in December 2015. The business has turned profitable within 7 quarters of full operations. Its net worth has gone up to Rs375 crore.

Birla Sun Life Insurance ranks 4th among the private players in India. The new business premium market share is at 7.7 per cent. It remained the number 1 private life insurer in the group segment with a 27.0 per cent share. During the quarter, its individual new business premium rose 61 per cent and the total new business doubled year-on- year.