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Madura posts 60% growth in revenue
11
Feb '11
Aditya Birla Nuvo Limited (ABNL), a USD 3.5 billion conglomerate with leadership position across its businesses, has reported strong financial results. For the quarter ended 31st December 2010, the Company's consolidated revenue at Rs. 4,563 Crore grew by 12% and net profit at Rs. 275 Crore rose phenomenally vis-à-vis Rs. 8 Crore attained in corresponding quarter of the earlier year.

Commenting on the results, Dr. Rakesh Jain, MD, Aditya Birla Nuvo said, “The investments made in the growth businesses viz., Financial Services, Fashion & Lifestyle and IT-ITeS businesses are now yielding consistent results. This reflects the strength of ABNL's diversified business model and growth strategy which will continue to be pursued to further strengthen ABNL's leadership positions across all the businesses”.

Mr. Sushil Agarwal, CFO, Aditya Birla Nuvo highlighted, “Continuing its trend of delivering strong results quarter after quarter, ABNL posted 8th consecutive quarterly growth in EBITDA. On a year on year basis, net profit recorded a swing of more than Rs. 250 Crore during the quarter and more than Rs. 550 Crore during the nine months. The balance sheet and financial ratios have also been strengthened considerably. We are committed to maintain this trend of superior performance.”

Fashion & Lifestyle: Madura Garments has posted a 60% growth in revenue at Rs. 504 Crore. The business is leveraging its brand leadership and expanded retail presence to ride on the buoyant demand in the domestic market. Like to like stores sales from the major brands (Louis Philippe, Van Heusen, Allen Solly and Peter England) grew by 35%. During the quarter, 54 Exclusive Brand Outlets (EBOs) were launched to reach a total of 506 EBOs across 9.5 lacs sq. ft. area. EBITDA shot up from Rs. 10 Crore to Rs. 47 Crore during the quarter.

During the three quarters, business posted an EBITDA of Rs. 111 Crore – a swing of more than Rs. 100 Crore over the last year.

Madura Fashion & Lifestyle, a division of Aditya Birla Nuvo Ltd, is one of India's fastest growing branded apparel companies and a premium lifestyle player in the retail sector.

Madura Fashion & Lifestyle, Div. of Aditya Birla Nuvo Ltd

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