INDIA: Aditya Birla Nuvo H1 profits surge
Indian conglomerate Aditya Birla Nuvo saw first half net profit surge on rising sales.
The company, whose interests run from fashion and textiles through to financial services and telecoms recorded a 22% increase in net profit to reach INR5.71bn (US$104.2m).
Revenue grew 12% to INR113.14bn over the half.
The company's Madura Fashion and Lifestyle brand recorded a 7% increase in EBITDA to reach INR870m. Revenue grew 9% to INR11.71bn. Over the half, wholesale recorded a marginal increase in revenue, while the retail channel recorded 21% growth, driven by new store openings.
"The challenging economic environment continues to affect growth in some of the sectors where ABNL operates. Despite this, the company has posted a strong growth in earnings," said managing director Dr Rakesh Jain.
- Will Vietnam struggle with impending trade deals?
- The new age of disruption on apparel production
- Yuan devaluation impact mixed for garment firms
- Kurt Cavano on “the Uberfication of everything”
- China devaluation: what’s the big deal?
- US Q2 in brief: J Crew, Aeropostale, Bebe Stores
- Luen Thai to continue investment in Vietnam
- Adidas seeking to resolve shoe supplier dispute
- Adidas files trademark suit against Forever 21
- H&M offers $1m grant for sustainable innovations
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Ethiopia – the emerging textile and clothing industry
- Global market review of lingerie - forecasts to 2020
- Global market review of swimwear - forecasts to 2019