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 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.