Led by revenue growth of 26 per cent year-on-year, Aditya Birla Capital posted its highest-ever consolidated profit for Q1 of any financial year. The net profit for the quarter was ₹429 crore, 42 per cent higher y-o-y.
The customer base of the company grew 55 per cent y-o-y to a total of 39 million customers at the end of June, it said in a release. The overall lending book of Aditya Birla Capital, including the NBFC and housing finance subsidiaries, grew 22 per cent to ₹69,887 crore as of June 30. The company has a strong focus on retailisation, with retail, SME and HNI segments accounting for 69 per cent of the total lending book.
Strong disbursements
The NBFC arm, Aditya Birla Finance, saw strong disbursements of ₹8,039 crore in Q1 FY23, up three-fold from the previous year. NIM for the quarter was at 6.47 per cent, higher by 33 bps y-o-y, led by growth in retail and SME segments and lower cost of borrowing, the release said.
Gross premium written by the life and health insurance arms increased 53 per cent y-o-y to ₹3,250 crore. Overall AUM across the asset management, life insurance and health insurance businesses was up 4 per cent at ₹3.6-lakh crore, as of June 30.