Aditya Birla Money jumped 10.70% to Rs 63.60 after the company reported 51% rise in net profit to Rs 9.70 crore on a 18.5% increase in revenue from operations to Rs 68.19 crore in Q2 FY23 over Q2 FY22.
Total expenses during the quarter rose by 16.7% YoY to Rs 57.13 crore, primarily due to sharp jump in finance costs (up 89.1% YoY).
Profit before tax in Q2 FY23 stood at Rs 13.66 crore, up by 50.3% from Rs 9.09 crore in Q2 FY22.
Aditya Birla Money (ABML) is a subsidiary of Aditya Birla Capital. The company is a stock broking and capital market products distributor, offering equity and derivative trading through NSE and BSE and currency derivative on MCX-SX and commodities trading through MCX and NCDEX.
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