Aditya Birla Capital Q4 results: Net profit rises 35% to Rs 609 crore

Aditya Birla Capital, on Thursday, posted a consolidated net profit of Rs 609 crore for the March quarter. This is 35.3 per cent rise from Rs 450 crore a year ago, the company statement said.

The company’s consolidated total revenue from operation rose by 21.2 per cent to Rs 8,025 crore for the March quarter as compared to Rs 6,617 crore in the year-ago period.

The profit after tax (PAT) excluding fair value gain related to the health insurance business grew 33 per cent year on year to Rs 2,057 crore in FY23. The company had 38 million customers as of March 31, 2023.

In a regulatory filing, Aditya Birla Capital said, “The branch expansion is targeted at driving penetration into Tier 3 and Tier 4 towns and new customer segments.”

The company’s net interest margin (NIM) rises 6.88 per cent in Q4 FY23 in NBFC business.

The strong momentum across businesses led to a 40 per cent year-on-year growth in the overall lending book (NBFC and HFC) to Rs 94,364 crore as on March 31,2023 and a 28 per cent year-on-year growth in the gross premium (Life and Health Insurance) to Rs 17,787 crore in FY23.

In asset management company (AMC) business, about 75 per cent of customers were onboarded digitally in FY23. In life insurance, 77 per cent of renewals were done digitally in FY23. In health Insurance business, 87 per cent business is delivered by auto-underwriting.

The Company launched INFINITE, the flagship start-up engagement programme, to co-create solutions for enhancing customer journeys and increasing operational efficiency.