Mumbai, Feb 2(UNI) Aditya Birla Capital Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2022.
The Consolidated Revenue of the Company grew 31 pc, year on year, to Rs. 7,699 Crore. The profit after tax2 (after minority interest) grew 27% year on year, to Rs. 530 Crore.
The Company added 1.4 million customers during Q3 FY23 taking the total customer base to 43 million as of December 31, 2022. The Company opened 62 branches during Q3 FY22 taking the total branch count to 1,220 as of December 31, 2022. The Company’s branch expansion is targeted at driving penetration into tier 3 and tier 4 towns and new customer segments. The strong momentum across businesses led to a 40% year-on-year growth in the overall lending book (NBFC and HFC) to Rs. 85,869 Crore as on December 31,2022 and a 22% year-on-year growth in the gross premium (Life and Health Insurance) to Rs. 4,328 Crore in Q3 FY23.
The Company follows a ‘Digital First Approach’ for product innovation, direct acquisition, seamless onboarding and best-in-class service delivery. 56% of personal loan disbursements in Q3 FY23 were done digitally. 84% of customer service interactions in the NBFC business were done digitally in Q3 FY23. About 78% of life insurance renewals were done digitally and 88% of life insurance customer requests were serviced digitally in 9M FY23. In Health Insurance business, all the distributors are now onboarded digitally, and 85% business was delivered by auto-underwriting in 9M FY23.
Keeping in mind the digital first approach and to further strengthen customer propositions, the Company has embarked on creating an omni-channel D2C platform to serve existing customers and acquire new customers in a seamless manner. The Board has approved the formation of a separate wholly owned subsidiary for this purpose. Through the platform, the Company will distribute Protecting, Investing, Financing and Advising (PIFA) products of companies of Aditya Birla Capital through various touchpoints such as website, app, branch and virtual engagement in an integrated manner. This will meet the financial needs of customers and give them complete flexibility to choose the channel for interaction by providing ‘One Experience’ across channels. The platform will also integrate a payments stack and value-added services to enhance customer experience and brand recall.
UNI RKM