Aditya Birla Capital reports highest ever quarterly profit at Rs 429 crore in June quarter

Aditya Birla Capital on Wednesday reported its highest ever consolidated quarterly net profit at Rs 429 crore in the April-June period, up by 42 per cent over the year-ago period.

The company had reported a net profit of Rs 302 crore in the corresponding June 2021 quarter of the previous fiscal.

The consolidated revenue of the company grew by 26 per cent to Rs 5,859 crore in the April-June quarter of 2022-23 compared to Rs 4,632 crore in the same period of 2021-22, ABCL said in a release.

The company said the overall lending book under its NBFC and HFC business grew by 22 per cent to Rs 69,887 crore at end of the June quarter of FY23.

Gross premium under life and health insurance jumped by 53 per cent to Rs 3,250 crore, it said.

The company’s overall asset under management (AUM) across asset management, life insurance and health businesses grew 4 per cent year-on-year to Rs 3,55,612 crore, ABCL said.

"The company’s retalisation strategy has led to the active customer base growing to nearly 39 million (3.9 crore), a 55 per cent year-on-year growth,” it said.

Going forward, it said the company will accelerate growth momentum across businesses to scale, focus on customer acquisition including through direct channels besides deepening penetration within various geographies.

ABCL is the holding company for the financial services businesses of the Aditya Birla Group. ABCL shares traded at Rs 106.80 apiece on BSE, down by 0.56 per cent. ABCL shares traded at Rs 106.80 apiece on BSE, down by 0.56 per cent.