Aditya Birla Nuvo Q1 net rises

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Aditya Birla Nuvo, the retailing arm of Aditya Birla Group, has posted a 23.45 per cent increase in net profit to Rs 41.64 crore during the first quarter ended June 30, 2008. The company had recorded a net profit of Rs 33.73 crore for the same quarter in the previous financial year.

The company’s total income rose to Rs 1,081.23 crore during the quarter under review, from Rs 785.57 crore recorded in the same period of previous financial year.

On a consolidated basis, the group has posted a net loss of Rs 28.32 crore during the reporting quarter, as against a net profit of Rs 94.69 crore posted during the quarter ended June 30, 2007.

Total income rose to Rs 3,252.89 crore for the quarter ended June 30, 2008, from Rs 2,198.29 crore recorded during the same period a year ago.

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