A net loss of Rs 156 crore in the third quarter ended December 31 was recently reported by Aditya Birla Nuvo, which has interest in telecom, BPO, garments and insurance, against a net profit of Rs 30 crore in the same period last year. There was 17% growth in the net sales to Rs 3,429 crore.

A lower net profit of Rs 219 crore was reported by telecom business, due to a hit by the start up costs in Mumbai and Bihar.

A higher net loss of Rs 166 crore was reported by the life insurance business, which happened because of rise in new business premium and higher spends on expansion of distribution network, which are vital growth drivers of the business.

Despite site closure costs of Rs 7.5 crore, there was a marginal reduce in the net loss in the BPO segment to Rs 37.8 crore (Rs 38 crore).