Aditya Birla Nuvo’s Q4 net profit tumbles 42%

Aditya Birla Nuvo has registered a fall of 42% in consolidated net profit for the fourth quarter ended March 31, 2012 at Rs 170.27 crore as compared to Rs 293.56 crore for the same quarter previous year. The fall in net profit witnessed primarily due to a tax related exceptional item of over Rs 103 crore.

However, the company’s consolidated net sales for the quarter under review rose 14.84% to Rs 5,922.00 crore as against Rs 5,156.73 crore in the corresponding quarter last fiscal.

The multi-business conglomerate’s consolidated net profit for 2011-12 jumped 8.28% to Rs 890.13 crore as compared to Rs 822.10 crore in the previous fiscal. Moreover, its net sales rose by 19.96% to Rs 21,592.48 crore, as compared to Rs 17,999.46 crore in 2010-11.

Aditya Birla Nuvo’s operates in areas like financial services, telecom, fashion and lifestyle, IT and ITES, agri products, yarn and textile manufacturing.