Business EconomyPosted at: Oct 30 2024 6:58PM


Aditya Birla Capital net up 42 percent at Rs 1,001 crore in Q2

New Delhi, Oct 30 (UNI) Aditya Birla Capital Limited (ABCL), a holding company for the financial services businesses of the Aditya Birla Group, on Wednesday reported 42 percent jump in net profit y-o-y basis at Rs 1,001 crore during the second quarter of current financial year versus Rs 705 crore in the same quarter of last fiscal that 2023-24.
The Company’s consolidated revenue grew 36 percent in the July-September period of 2024-25 at Rs 12,007 crore as against Rs 8,831 crore in the same period of 2023-24, ABCL said in a release.
The consolidated profit after tax includes gain of Rs 167 crore on sale of entire stake of 50 percent in Aditya Birla Insurance Brokers Limited.
The overall lending portfolio (NBFC and HFC) grew by 27 percent year-on-year and 8 percent sequentially to Rs 1,37,946 crore as on September 30, 2024, ABCL said, adding the total AUM (AMC, life insurance and health insurance) grew by 24 percent year-on-year and 9 percent sequentially to Rs 5,01,152 crore as on September 30, 2024.
The Company has a pan-India presence of 1,470 branches across all businesses as of September 30, 2024. The Company is focused on capturing white spaces and driving penetration into tier 3 and tier 4 towns and new customer segments.
During the quarter, the Company has introduced new products such as digigold gifting, family health scan and pocket insurance. It helps customers to fulfil their financial needs and serves as an acquisition engine for the Company. The platform has witnessed a strong response with more than 2.5 million customer acquisitions till date, the company added.
UNI SKB CS1858
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