Aditya Birla Capital Q2 profit rises 30% to Rs 488 cr, revenue up 21%

Aditya Birla Capital on Monday reported its highest-ever quarterly profit at Rs 488 crore on a consolidated basis for the quarter ended September 2022, up by 30 per cent from a year ago, led by growth momentum across businesses.

It had posted a net profit of Rs 377 crore in the same period a year ago.

The total consolidated revenue of the company grew by 21 per cent to Rs 7,210 crore in the July-September period of 2022-23 from Rs 5,970 crore earlier, Aditya Birla Capital Ltd (ABCL) said in a release.

The strong momentum across businesses led to a 31 per cent year-on-year growth in the overall lending book (NBFC and housing finance) to Rs 77,430 crore and a 24 per cent year-on-year growth in the gross premium (life and health insurance) to Rs 4,394 crore, ABCL said.

It added nearly 20 lakh customers during the quarter, leading to a 47 per cent yearly growth in the total customer base to 4.1 crore.

The company is present in non-banking finance (NBFC) business, housing finance, asset management, life and general insurance, among others.

ABCL is the holding company for the financial services businesses of the Aditya Birla Group.

Stock of Aditya Birla Capital closed 3.51 per cent higher at Rs 128.45 apiece on BSE.