Aditya Birla Money registers 9% top line growth, over last quarter

Aditya Birla Money (ABM), the retail broking arm of the Aditya Birla Financial Services Group (ABFSG), announced its Q3 results today, registering a top line growth of 9% over last quarter. The company achieved a PBT Rs. 6 crores in Q3, as against a PBT of Rs. 5.53 crores last quarter. Last year, during the same period Aditya Birla Money (then Apollo Sindhoori Capital Investments) had made a marginal profit of Rs. 0. 22 crores so this has been a significant improvement.

Aditya Birla Money (formerly known as Apollo Sindhoori Capital Investments) was acquired by the Aditya Birla Group in March 2009 and has since witnessed positive changes leading to profitable growth. The company, under the umbrella of ABFSG has focused on various measures like improvement of processes, introduction of new products and cost rationalization. Today, the company caters to the investment needs of 1.85 lakh customers with an easily accessible footprint of over 800 branches and a strong online platform.

Commenting on the occasion, Kanwar Vivek, Managing Director, Aditya Birla Money and Chief Executive Officer, Birla Sun Life Distribution said “We acquired the company in March 2009. Since then, we have geared ourselves for the immense potential that the retail broking business offers us. And our results reflect this optimism. However, we believe that the journey has just begun. We will continue to focus on our customer, while leveraging the immense synergies we enjoy, being a part of Aditya Birla Financial Services Group.”

About Aditya Birla Money
Aditya Birla Money (formerly known as Apollo Sindhoori Capital Investments) is a broking player, offering Equity and Derivative trading through NSE and BSE and Currency derivative on MCX-SX. It provides commodity trading on MCX and NCDEX through its subsidiary and is registered as Depository Participant with both NSDL and CDSL.

The company has a strong pan India distribution network of over 800 own and sub broker branches, a large customer base in excess of 1,85,000, a robust online and offline model with a strong technology backbone.

For more information please visit  www.adityabirlamoney.com

About Aditya Birla Financial Services Group (ABFSG)
The Aditya Birla Financial Services Group (ABFSG) has a significance presence across various verticals, including life insurance, insurance broking, mutual funds, private equity, security based lending, factoring, insurance advisory services, retail broking and distribution of third party products.

The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company, Birla Sun Life Asset Management Company, Aditya Birla Money (erstwhile Apollo Sindhoori Capital Investments), Birla Sun Life Distribution Company, Birla Global Finance Company, Birla Insurance Advisory & Broking Services and Aditya Birla Capital Advisors.

The ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 lines of business, with over 4.2 million customers manages assets worth USD 18 billion approximately and prides itself for having a talent pool of over 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through 1550 branches and over 2 lac channel partners. This allows ABFSG to offer its customers virtually anything other than a savings or current account. With over a billion dollar revenue, ABFSG is a significant non bank player and one of the few players who have a top 5 position in both life insurance and mutual funds.

ABFSG is a part of Aditya Birla Nuvo (ABNL), a USD 3 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a USD 29 billion Indian business house operating in 25 countries across the globe.