You are here: Home » News-ANI » Business
Business Standard

Aditya Birla Capital Q2 up by 37 pc at Rs 256 cr on diversified portfolio

ANI 

Aditya Birla Capital Ltd said on Thursday its consolidated profit after tax after minority interest in Q2 FY2019-20 grew by 37 per cent year-on-year to Rs 256 crore on the back of a diversified portfolio.

Consolidated revenue for the quarter grew by 8 per cent to Rs 4,299 crore.

"Considering the current environment, the company continues to follow a disciplined approach in terms of balancing growth with a strong focus on the quality of business," it said in a statement. "The company has a track record of delivering growth in consolidated profit across economic cycles."

During the quarter, the company raised Rs 2,100 crore of equity capital through preferential allotment to marquee investors and the promoter group entities. The equity capital raised at Rs 100 per share at a premium over the traded price reflects the strong confidence in the

Overall lending book (non-banking finance company and housing finance) grew by 4 per cent year on year to Rs 60,477 crore versus Rs 57,945 crore in the previous year.

The NBFC business had a loan book at Rs 48,368 crore with small and medium enterprises and retail mix growing by 14 per cent. The housing finance business' loan book grew 22 per cent year-on-year to Rs 12,079 crore while maintaining net interest margin at 3 per cent.

In the life insurance business, individual first-year premium grew 20 per cent during the half-year, higher than industry (excluding LIC) growth at 11 per cent. In the health insurance business, gross written premium at Rs 315 crore grew by 78 per cent over the previous year with retail business contributing 67 per cent.

Total average assets under management at the mutual fund were Rs 2.69 lakh crore with quarterly profit after tax growing at 40 per cent year-on-year to Rs 148 crore.

.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 07 2019. 17:56 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU