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  1. Aditya Birla Capital Q2 net profit rises 67 pct

Aditya Birla Capital Q2 net profit rises 67 pct

Aditya Birla Capital on Tuesday reported a consolidated net profit of Rs 226.6 crore in the September quarter of FY18, up 67% from the same quarter last year. Its revenues grew 14% on a like-to-like basis in the same period to Rs 3,192.6 crore.

By: | Mumbai | Published: November 8, 2017 4:08 AM
The company’s consolidated earnings before tax rose 22% on a year-on-year (y-o-y) basis to Rs 388 crore.

Aditya Birla Capital on Tuesday reported a consolidated net profit of Rs 226.6 crore in the September quarter of FY18, up 67% from the same quarter last year. Its revenues grew 14% on a like-to-like basis in the same period to Rs 3,192.6 crore. The company’s consolidated earnings before tax rose 22% on a year-on-year (y-o-y) basis to Rs 388 crore. Aditya Birla Capital Limited (ABCL) is the holding company for all the financial service businesses of the Aditya Birla Group. It includes life insurance, asset management, private equity, corporate lending, structured finance, general insurance broking, wealth management, equity, currency and commodity broking, online personal finance management, housing finance, pension fund management and health insurance business of the group. Aditya Birla Finance witnessed a 25% (y-o-y) growth in earnings before tax to Rs 277 crore in Q2 FY18 and its lending book increased 34% (y-o-y) to Rs 38,898 crore in the September quarter of FY18. Of the total loan book, 36% to large corporates, 25% was to small and medium enterprises (SME), 17% to mid corporates and 9% to retail customers. ABCL was listed on the stock exchanges on September 1, 2017 as the culmination of the composite scheme of arrangement under which Aditya Birla Nuvo Limited (ABNL) merged with Grasim Industries Limited (Grasim), and the financial services undertaking was subsequently demerged into ABCL.

Meanwhile, Aditya Birla Housing Finance reported an earnings before tax of Rs 2.7 crore in the September quarter of FY18. Its loan book has doubled on a y-o-y basis to Rs 5,777 crore and the lender said it was targeting to add eight new branches by March 2018, servicing 36 markets. Shares of Aditya Birla Capital on the Bombay Stock Exchange (BSE) closed at Rs 202.3 on Tuesday, down 2.46% from its previous close.

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