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Aditya Birla Capital reports highest-ever net profit at Rs 302 cr in June quarter

07:04 PM Aug 05, 2021 | PTI

Aditya Birla Capital Ltd on Thursday reported its highest ever consolidated net profit of Rs 302 crore, a 52 per cent jump, for the first quarter ended June 30.

The company had posted a net profit of Rs 198 crore in the year-ago period.

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Strong growth across businesses led to the highest ever consolidated net profit for the first quarter, despite a COVID-hit quarter, ABCL said in a release.

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The company's consolidated revenues grew by 8 per cent to Rs 4,632 crore in Q1FY22, from Rs 4,292 crore in Q1FY21.

The non-banking finance company of the Aditya Birla Group said it has leveraged partnerships to drive customer acquisition and growth.

The active customer base at 25 million (2.5 crore), grew 30 per cent year-on-year, aided by a focus on granular retail growth across all businesses, Aditya Birla Capital Ltd (ABCL) said.

Businesses are seeing the benefits of digital focus, it said, adding customers can transact and get services across all products on its app.

Its focus on building scale, growing retail base and delivering consistent profitability has yielded results.

With life insurance and health insurance businesses growing 26 per cent year-on-year, the asset under management of the company stands at over Rs 3.43 lakh crore.

The overall lending book (NBFC and housing finance) at Rs 57,182 crore shows the scale in lending, it said.

Going forward, the company said the focus will be on maximising the value of the active customer base while looking to continue to drive customer acquisition.

ABCL will leverage technology and analytics to grow revenue, improve customer experience, optimise costs, and build robust and scalable systems, it added.

Shares of the company closed at Rs 113.65 apiece on BSE, down 1.73 per cent from the previous close.

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