Aditya Birla Capital gains as Q4 PAT soars 105% YoY
Aditya Birla Capital advanced 2.54% to Rs 221.80 after the company's consolidated net profit zoomed 104.62% to Rs 1,245.41 crore in Q4 FY24 as against Rs 608.65 crore in Q4 FY23.
Consolidated revenue stood at Rs 12,079 crore in Q4 FY24, registering a growth of 32% from Rs 9,146 crore recorded in the same period a year ago.
Profit before tax surged 93.73% year on year to Rs 1,612.14 crore in the quarter ended 31 March 2024.
The total AUM (AMC, life insurance and health insurance) increased by 21% YoY to 4,36,442 crore during the quarter.
On full year basis, the companys consolidate net profit tumbled 30.46% to Rs 3,334.98 crore despite of 30.17% rise in revenue to Rs 39,050 crore in FY24 over FY23.
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The strong momentum across businesses led to a 31% YoY growth in the overall lending portfolio (NBFC and HFC) to 1,24,059 crore as on 31 March 2024.
The total premium (life insurance and health insurance) grew by 18% YoY to Rs 20,961 crore in FY24.
The company said that it continues to expand its physical footprint with a pan-India presence of 1,474 branches across all businesses as of 31 March 2024. The branch expansion is targeted at driving penetration into tier 3 and tier 4 towns and new customer segments.
Aditya Birla Capital is the holding company for the financial services businesses of the Aditya Birla Group.
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First Published: May 13 2024 | 3:14 PM IST