Nuvo Hits 7-Year High Post Q4 Results
Aditya Birla Nuvo has moved higher by 5% to Rs 1,913, its highest level since February 2008 on the BSE, after reporting a healthy 89% year-on-year (yoy) growth in consolidated net profit at Rs 332 crore for the fourth quarter ended March 2015 (Q4) on account of lower employee costs. The Aditya Birla Group company had posted a profit of Rs 176 crore in the year-ago quarter. Total operational income during the quarter under review, however, declined 0.53% at Rs 7,073 crore against Rs 7,111 crore in the corresponding quarter of the previous fiscal. Employee benefit expenses declined 40% to Rs 581 crore on a y-o-y basis. The EBITDA or operating profit margin expanded by nearly 400 basis points to 21.6% from 17.8%. At 1503 hours, the stock was up 2.7% at Rs 1,879 on the BSE.