-
ALSO READ
Election results LIVE: Mamata wins Bengal, DMK TN, LDF Kerala, BJP Assam
RIL Q1 results: Consolidated net profit falls 7% to Rs 12,273 crore
Q1 results: Reliance Jio net profit rises 45% to Rs 3,651 crore
Jio's Q1 net profit rises 45% YoY to Rs 3,651 crore; ARPU at Rs 138
K M Birla offers to hand over his Vodafone Idea stake to government
-
Aditya Birla Capital on Monday reported its highest ever quarterly profit of Rs 377 crore on a consolidated basis in July-September 2021 on the back of strong growth across its business verticals.
The company had posted a consolidated net profit of Rs 264 crore in the same period a year ago.
The consolidated profit after tax (after minority interest) grew 43 per cent year-on-year, to Rs 377 crore, the highest level ever recorded by the company, Aditya Birla Capital Ltd (ABCL) said in a release.
The consolidated revenue of the company grew by 22 per cent to Rs 5,961 crore during the July-September period of 2021-22, as against Rs 4,885 crore in the same period of 2020-21.
The active customer base grew to about 28 million (2.8 crore), a 42 per cent year on year growth. "The company's focus on building scale, growing its retail base and delivering consistent profitability, continues to yield results," it said.
The overall asset under management (AUM) across asset management, life insurance and health insurance businesses grew by 24 per cent from a year ago to over Rs 3,70,290 crore as of September 30, 2021.
The gross premium across life and health insurance during April-September FY22 grew by 25 per cent y-o-y to Rs 5,685 crore, reflecting the scale in insurance businesses, it added.
The overall lending book of NBFC and housing finance at Rs 59,060 crore shows the scale of the lending businesses, ABCL said.
The company said it has raised over Rs 6,000 crore of long-term funds in the lending business in the first half of FY2021-22.
ABCL shares traded at Rs 98.85 apiece on BSE, up 2.17 per cent from the previous close.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU