Aditya Birla Capital profit jumps 35 pc to Rs 609 cr in March quarter
May 12, 2023
New Delhi [India], May 12 : Aditya Birla Capital has posted a 35.5 per cent jump in its net profit of Rs 609 crore for the March quarter. It had Rs 450-crore net profit during the year-ago period.
According to a statement from the company, total revenue from operations rose by 21.2 per cent to Rs 8,025 crore for the March quarter, against Rs 6,617 crore in the year-ago period.
Profit after tax (PAT), which excluded the fair value gain related to the health insurance business, grew 33 per cent year on year to Rs 2,057 crore during 2022-23 (FY23). The company had 38 million customers as of March 31, 2023, the company's statement released on Thursday evening said.
Net interest margin (NIM) rose 6.88 per cent in the fourth quarter of fiscal 2022-23 (Q4 FY23) in non-banking finance company (NBFC) business. Aditya Birla Capital said in the statement, "The branch expansion is targeted at driving penetration into Tier III and Tier IV towns and new customer segments."
This growth across businesses led to a 40 per cent year-on-year growth in the overall lending book (NBFC and HFC) to Rs 94,364 crore as on March 31, 2023, and a 28 per cent jump in the gross premium (Life and Health Insurance) to Rs 17,787 crore in FY23.
The shares of the company were trading 1.13 per cent up at Rs 165.80 apiece on Friday morning.
A wholly-owned subsidiary, Aditya Birla Capital Digital Limited was established on March 23, 2023, to develop an omni-channel direct-to-customer (D2C) platform.
