Aditya Birla Nuvo Garments biz revenues rise by 36%

30 Jan '08

4 min read

Aditya Birla Nuvo Ltd's consolidated revenues at Rs. 3,661.6 Crores have risen substantially by 58% from Rs. 2,316.1 Crores achieved during the corresponding quarter of FY 2007.

Revenues from its subsidiaries and joint ventures, where the company has made substantial investments in the past, grew by 79% to Rs. 2564.2 Crores from Rs. 1,435 Crores. All the businesses are on the growth trajectory.

• The Telecom business registered a 49% rise in revenues at Rs. 1708.1 Crores vis-à-vis Rs. 1148.2 Crores with a subscriber base of 21.05 Millions as on December 31, 2007, growing at a higher clip than the industry.

Idea has received Letter of Intent to operate in the remaining 9 circles besides receiving spectrum allocation for Mumbai and Bihar circles. This is a significant move towards Pan India presence.

• The Life Insurance business soared by 185% in revenues to Rs. 1484.7 Crores from Rs. 521.8 Crores. New business premium is up by 163% to Rs. 498 Crores.

The business garnered 6.6% market share till Dec'07 up from 5.3% in FY2007, in terms of new business premium amongst private players.

This was possible with the substantial investments that the company has made to strengthen the distribution reach. The business now has 339 branches and over 86,000 agents compared to 137 branches and over 57,000 agents in the beginning of the year.

• In the Garments business, revenues rose by 36% to Rs. 278.8 Crores from Rs. 204.7 Crores. Controlled retail space has been expanded to 4.7 lacs square feet across 235 Exclusive Brand Outlets.

• The BPO business reported revenues of Rs. 403.1 Crores. Three new clients including two fortune 500 companies were added during the quarter besides launching one new site in India.

The standalone revenues grew by 25% from Rs. 881.1 Crores to Rs. 1097.4 Crores. The Carbon Black business posted the best ever quarterly revenues.

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