Aditya Birla Capital posts 31% rise in Q1 net

By: | Published: August 11, 2018 2:30 AM

Aditya Birla Capital on Friday posted a 31% year-on-year (y-o-y) rise in its consolidated net profit to Rs 216 crore for the June quarter.

Aditya Birla, Aditya Birla capital, June quarter, Aditya Birla Housing Finance, Aditya Birla Finance, marketAditya Birla Finance (ABFL) posted gross stage 3 and net stage 3 provisions at 0.95% and 0.42% post transition to expected credit loss methodology under Ind AS accounting.

Aditya Birla Capital on Friday posted a 31% year-on-year (y-o-y) rise in its consolidated net profit to Rs 216 crore for the June quarter. Revenue increased 32% y-o-y to Rs 3,374 crore from Rs 2,553 crore. The company’s assets under management saw a 14.25% y-o-y increase to Rs 3.06 lakh crore from Rs 2.62 lakh crore . Its lending book, which includes housing, saw a 23% y-o-y increase, clocking in Rs 53,584 crore.

In a statement, the company said that Aditya Birla Housing Finance (ABHFL) almost doubled its loan book on a y-o-y basis to Rs 9,176 crore from Rs 4,816 crore. Aditya Birla Finance (ABFL) posted gross stage 3 and net stage 3 provisions at 0.95% and 0.42% post transition to expected credit loss methodology under Ind AS accounting.

“ABFL continues to have a well diversified portfolio with a focus on asset quality, robust risk management and generating healthy returns,” Aditya Birla Capital said in the statement.

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