Aditya Birla Capital Net Profit Rises 17% in Q1 FY25
Aug 01, 2024 20:14
Aditya Birla Capital reported a 17% rise in its consolidated net profit to Rs 759 crore in the April-June quarter, driven by growth in lending and asset management businesses.
Mumbai, Aug 1 (PTI) Non-bank lender Aditya Birla Capital on Thursday reported a 17 per cent increase in its consolidated net profit in June 2024 quarter at Rs 759 crore.
The city-headquartered firm, which houses all the financial services businesses of the Aditya Birla Group, had reported a net profit of Rs 649 crore in the year-ago period.
The consolidated revenue grew 26 per cent to Rs 10,258 crore during the reporting quarter, according to a statement.
The overall lending portfolio grew 27 per cent to Rs 1.27 lakh crore, while the total assets under management of the asset management, life insurance and health insurance businesses grew 20 per cent to Rs 4.62 lakh crore.
The total premium of the life insurance and health insurance business grew 30 per cent to Rs 5,027 crore, it said.
The profit before tax of the non-bank finance company grew 21 per cent to Rs 833 crore, while the operating profit for the housing finance arm was at Rs 85 crore, the statement said, adding the asset management arm's PBT grew 27 per cent to Rs 305 crore.
Its newly launched omni-channel direct-to-consumer platform has recorded 8 lakh registrations till date, as per the statement.
The company scrip closed 3 per cent down at Rs 220.10 a piece on the BSE on Thursday, as against gains of 0.15 per cent on the benchmark.
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