MUMBAI: Aditya Birla Nuvo Ltd today posted 42 per cent decline in consolidated net profit for the fourth quarter ended March 31, 2012 at Rs 170.27 crore, compared to Rs 294 crore in the same period last year. The decline was primarily due to a tax related exceptional item of over Rs 103 crore.

Despite the earnings pressure in some of its businesses, the company has chalked out Rs 650 crore capex plan this year.

The multi-business conglomerate operates in areas like financial services, telecom, fashion and lifestyle, IT and ITES, agri products, yarn and textile manufacturing.

“The company is progressing well on the growth path to tap sector opportunities,” ABNL Managing Director Rakesh Jain told reporters here.

The company has made a provision for entry tax (in UP) till 31st March 2012 aggregating Rs 103.88 crore and the same is considered as an exceptional item.

The firm’s consolidated revenue for the quarter increased by 15 per cent to Rs 5,994 crore.

Consolidated net profit for 2011-12 increased 8.27 per cent to Rs 890.13 crore, compared to Rs 822.10 crore in the previous fiscal. The revenue grew by 20 per cent to Rs 21,840 crore against Rs 18,188 crore in 2010-11.

The company’s telecom business posted lower net profit at Rs 723 crore as against Rs 899 crore due to higher depreciation/amortisation and interest costs of Rs 170 crore relating to 3G investments coupled with higher deferred tax.

Aditya Birla Financial Services (ABFS) gained market share in the life insurance, asset management, NBFC and broking businesses. Aditya Birla Private Equity launched second fund, taking the total funds under its management to Rs 1,179 crore. ABFS posted a consolidated revenue of Rs 6,550 crore.

The company has chalked out capital expenditure of Rs 650 crore in the current fiscal in rayon business, caustic soda expansion and agri business, compared to Rs 350 crore last year.

The combined revenue of manufacturing group soared by 33 per cent to Rs 6,244 crore. Agri business crossed Rs 2,000 crore revenue mark supported by commencement of trading in imported fertilisers. Textiles business crossed Rs 1,000 crore revenue mark.

“We plan to invest Rs 270 crore in rayon business with new German technology. We are also setting up new caustic soda facility at Patalganga in Maharashtra costing Rs 150 crore,” ABNL Whole Time Director and CFO Sushil Agarwal said.

During the quarter, the company’s board of directors approved the proposed acquisition of a controlling stake in Future Group’s Pantaloon format. Pantaloon Retail India Ltd will issue debentures worth Rs 800 crore to a subsidiary of Aditya Birla Nuvo.

The transaction is expected to be completed within the next 8-10 months subject to due diligence and approvals.