Aditya Birla Capital’s Q2 net profit increased by 30% to Rs 488 Crore

According to a press statement from Aditya Birla Capital Ltd (ABCL), the company’s total consolidated revenue increased by 21% to Rs.7,210 crore in the period of July through September 2022–23 from Rs.5,970 crore the previous year.

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For the quarter that ended in September 2022, Aditya Birla Capital announced its highest-ever quarterly profit at Rs.488 crore on a consolidated basis, up 30% over the same period in the previous year, driven by growing momentum across companies.

In the same quarter a year prior, it had reported a net profit of Rs.377 crore.

According to a press statement from Aditya Birla Capital Ltd (ABCL), the company’s total consolidated revenue increased by 21% to Rs.7,210 crore in the period of July through September 2022–23 from Rs.5,970 crore the previous year.

According to ABCL, the strong momentum across all businesses contributed to a 31% year-over-year increase in the total lending book (NBFC and home financing), which reached Rs.77,430 crore, and a 24% year-over-year increase in the gross premium (life and health insurance), which reached Rs.4,394 crore.

The number of total customers increased by about 20 lakh during the quarter, bringing the total to 4.1 crore, or a rise of 47% annually.

The company operates in a variety of industries, including asset management, life and general insurance, non-banking finance (NBFC), and housing finance.

The Aditya Birla Group’s financial services companies are housed under ABCL.

Aditya Birla Capital’s stock rose 3.51 percent to close at Rs.128.45 per share on the BSE.