February 14, 2017 / 8:17 AM / 6 months ago

BRIEF-Aditya Birla Nuvo Dec qtr profit down about 35 pct

Feb 14 (Reuters) - Aditya Birla Nuvo Ltd

* Consol dec quarter net profit 2.06 billion rupees

* Consol dec quarter total income from operations 33.88 billion rupees

* Consol net profit in dec quarter last year was 3.18 billion rupees as per ind-as; consol total income from operations was 31.34 billion rupees

* Says planning to launch payments bank services by the first half of the calendar year 2017

* For 2016-17, co planned a capex of about INR 3 billion for its divisions including towards the expansion of linen yarn and VFY capacities.

* Says there will be a capital requirement to the tune of about 9 billion rupees in the financial services businesses

* Deal with Grasim expected to be completed by first half of fiscal 2017-18

* Says solar power business is in the process of setting up 60 MW solar power capacity in Karnataka

* Senior management team planning to launch payments bank services by first half of calendar year 2017, after obtaining approvals from RBI

* Says commissioning of solar power plants in karnataka is targeted by first quarter of FY2017-18

* The profit alert was first sourced from TV and later confirmed from a press release on the NSE Source text - (bit.ly/2l35IkW) Further company coverage:

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