MUMBAI: Kumar Mangalam Birla owned Aditya Birla Nuvo’s (ABNL’s ) consolidated net profit for the quarter ended March fell by 1.80% to Rs 327 crore when compared on a like to like basis. The consolidated revenue for the quarter was up by 13.25% to Rs 6425 crore when compared to the same period last year.

The group that has financial sector, telecom, linen and manufacturing business under its folds reported 11% increase in revenue to Rs 23129 crore for the year ended 31st March 2016. Propelled by the growth in non-banking financial company (NBFC), asset management, telecom, rayon and agri business , its consolidated annual net profit was up by 30.34% to Rs 1886 crore.

According to the group statement, ABNL plans to incur a capital expenditure of about Rs 325 crore for its pisions including Rs191 crore and Rs 40 crore towards the expansion of linen Yarn and viscose filament yarn capacities respectively. The company added that there will be a capital requirement of about Rs 750 crore in the financial services businesses and equity requirement for ABNL’s 51% share in the new ventures that include solar power, payments Bank and health Insurance.

Aditya Birla Financial Services assets under management (AUM) went up by 12% to Rs 184,276 crore as on 31st March 2016. Its revenue grew by 17% to Rs 9,299 crore and earnings before tax by 17% to Rs 995 crore. It is one of the largest non-bank financial services players and has built a persified portfolio of 12 lines of businesses.

The group’s telecom firm Idea Cellular posted a consolidated revenue of Rs 35,935 crore driven by subscribers’ additions and rise in minutes of use and data volumes. ‘To capitalise on the data opportunity, Idea is aggressively expanding its 3G and 4G footprints, leveraging its strong spectrum bank,’ said the group in the statement.

Spurred by volume growth and improved realisation in Viscose Filament Yarn and Caustic Soda segments, Indian Rayon attained its highest ever earnings and its EBITDA went by 35% to Rs 266 crore.

It also informed the BSE that the Board of Directors of the Company at its meeting held on May 20, 2016 have approved a proposal for increase in investment limits by registered foreign portfolio investors / foreign institutional investors from the existing 24% of the paid-up equity share capital to upto 30% of the paid-up equity share capital of the company.