The shares of Aditya Birla Money surged up to 13.52 per cent, hitting their 52-week high at Rs 188.45 per share on the BSE in Thursday's early morning deals. This came after the Aditya Birla group company reported a stellar quarterly earnings for the April-June quarter of fiscal year 2024-25 (Q1FY25).
The company saw a robust 73.48 per cent jump in net profit to Rs 16.36 crore in June quarter, up from Rs 9.43 crore in the corresponding quarter of the previous year. Sequentially this was flat down marginally by 0.6 per cent. The company had reported Rs 16.46 crore net profit in the December quarter of FY24.
The company’s net interest income (NII) rose 60.18 per cent at Rs 50.57 crore from Rs 31.57 crore in the same quarter last year. On a quarterly basis, this was up by 2.1 per cent as the company had registered NIIs of Rs 49.53 crore in the previous quarter.
The company’s total expenses rose by 46.90 per cent YoY at Rs 97.4 crore versus Rs 66.3 crore in the corresponding quarter of last year.
In an exchange filing the company also informed that Ashok Suvarna has been appointed as the Chief Executive Officer with effect from September 01, 2024.
Currently, Suvarna is serving as chief distribution officer of Aditya Birla Sun Life Insurance Suvarna has an overall experience of around 30 years in sales and operations and has been associated with Aditya Birla Capital since 2008, the company said.
He has been associated with Organizations like Aditya Birla Sun Life Mutual funds, ICICI Prudential and SBI Funds in the past.
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Aditya Birla Money operates as a registered stock broker with SEBI, engaging in securities broking. It is a member of both BSE and NSE, providing trading services in equities and derivatives through these exchanges.
Additionally, the company holds a Portfolio Management Services (PMS) licence from SEBI, offering customised portfolio management solutions to its clients.
The share price of the company has moved up by over 56 per cent year to date, while rallying 190 per cent in the last one year.
At 11:29 AM, shares of Aditya Birla Money were trading 7.71 per cent higher at Rs 177.90 per share. In comparison, the BSE Sensex was trading 0.18 per cent lower at 80,570 levels.