Aditya Birla Capital posts its highest quarterly profit of Rs 377cr in Jul-Sep

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Updated: November 01, 2021 9:28 PM

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.

ABCL shares traded at Rs 98.85 apiece on BSE, up 2.17 per cent from the previous close.

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.

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