A first in 10 years: Aditya Birla group slips into red as Voda Idea bleeds

For the first time in at least a decade, Aditya Birla group companies reported losses at the group level in FY19, thanks to Vodafone Idea. The group firms reported combined losses of Rs 6,134 crore in FY19 against a net profit of Rs 5,414 crore a year ago. Excluding Vodafone Idea, the group reported a net profit of Rs 8,470 crore, down from a profit of Rs 9,582 crore a year ago.

The trend was similar during the first quarter of FY20, with group companies reporting a combined loss of Rs 3,329 crore during April-June 2019 period against a net profit of Rs 2,004 crore a year ago. Excluding Vodafone Idea, the group companies reported net profit of Rs 1,545 crore during Q1FY20 against a profit of Rs 1,748 crore a year ago. The telco reported a net loss of Rs 14,604 crore in FY19, more than offsetting the combined profits of other listed firms in the group. The firm followed it by reporting a loss of Rs 4,874 crore during April-June 2019.

source: BS