ADITYA BIRLA NUVO LTD. - Announces Q2 results and Limited Review Report for the Quarter ended September 30, 2014
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| 12 Nov 2014 | |
| Aditya Birla Nuvo Ltd has announced the following results for the quarter ended September 30, 2014:<br/><br/>The Unaudited Standalone results for the Quarter ended September 30, 2014<br/><br/>The Company has posted a net profit of Rs. 2629.90 million for the quarter ended September 30, 2014 as compared to Rs. 2184.60 million for the quarter ended September 30, 2013. Total Income has increased from Rs. 22597.70 million for the quarter ended September 30, 2013 to Rs. 26302.90 million for the quarter ended September 30, 2014.<br/><br/>"The Consolidated Results are as follows:<br/><br/>The Unaudited Consolidated results for the Quarter ended September 30, 2014<br/><br/>The Group has posted a net profit after taxes and minority interest of Rs. 4520.50 million for the quarter ended September 30, 2014 where as the same was at Rs. 2901.50 million for the quarter ended September 30, 2013. Total Income is Rs. 67042.50 million for the quarter ended September 30, 2014 where as the same was at Rs. 65654.00 million for the quarter ended September 30, 2013.<br/><br/>- ABNL IT and ITES Limited, a wholly owned subsidiary of the Company, at its meeting of the Board of Directors hold on 30th January 2014. had approved the divestment of shares held by it in its IT-ITeS subsidiary Aditya Birla Minacs Worldwide Limited, and had executed a Share Purchase Agreement with a group of investors led by Capital Square Partners and CX Partners at an Enterprise Value of USD 260 Million (including deferred grant) subject to working capital adjustment and fulfillment of requisite consents and approvals,<br/><br/>All requisite consents and approvals which were part of closing conditions had been completed in the previous quarter. With this divestment, Aditya Birla Minacs Worldwide Limited and its subsidiaries ceased to be subsidiaries of the Company, with effect from 9th May 2014 and a loss of Rs. 1333 Lakhs (Net off one time fees) had been recognised as an exceptional item. <br/><br/>In view of above, the figures for the previous periods are not strictly comparable." | |
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