Aditya Birla Capital jumps 6% after posting record profit in Q2, BFSI News, ET BFSI
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The counter was up 6.08 per cent as of 9.37 am at Rs 105.55 on the BSE.
In a statement, the company said it has delivered the highest ever consolidated quarterly profit with “strong growth across businesses” during the second quarter.
The consolidated revenue of the company, which includes that of recently listed Aditya Birla Sun Life and Aditya Birla Wellness, grew 22 per cent year-on-year (YoY) to Rs 5,961 crore. The consolidated profit after tax (after minority interest) grew 43 per cent YoY, to Rs 377 crore.
“The company’s focus on building scale, growing its retail base and delivering consistent profitability, continues to yield results. The retail-isation strategy has led to the active customer base growing to ~28 million, a 42 per cent year on year growth. The scale is evidenced with overall AUM across asset management, life insurance and health insurance businesses growing 24 per cent year on year, to over Rs. 3,70,290 crore,” it said in a statement.
The overall lending book (NBFC and Housing Finance) at Rs 59,060 crore shows the scale of the lending businesses. The gross premium (across Life and Health Insurance) for the half year grew 25 per cent on-year to Rs 5,685 crore, reflecting the scale in insurance businesses.
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