Aditya Birla Capital has reported that its net profit in the September quarter was up 29 per cent at ₹488 crore against ₹377 crore logged in the same period last year, on back of robust performance across sectors.
Revenue from operation increased 22 per cent to ₹6,825 crore(₹5,596 crore). Expenses increased to ₹6,240 crore (₹5,164 crore). The company has added 2 million customers leading to a 47 per cent year-on-year growth in the total customer base which now stands at 41 million.
Lending book (NBFC and housing finance) grew 31 per cent to ₹77,430 crore while gross premium (life and health insurance) was up 24 per cent to ₹4,394 crore in the quarter under review.
NBFC loan book grew 36 per cent to ₹64,975 crore, backed by strong growth in retail, SME and HNI lending.
Disbursements double
Disbursements doubled in the September quarter to ₹12,488 crore. Net interest margin expanded by 35 bps to 6.58 per cent. Profit before tax of NBFC business grew 26 per cent to ₹488 crore.
Disbursement in housing finance business grew 24 per cent to ₹1,237 crore and loan book was up 10 per cent at ₹12,455 crore. Net interest margin expanded by 0.89 per cent to 5.13 per cent and profit before tax increased 15 per cent to ₹76 crore.
Other businesses including mutual fund, financial services, life and health insurance posted a strong growth.
The company had raised ₹665 crore from ADIA by selling 9.99 per cent stake in Aditya Birla Health Insurance as primary infusion of growth capital, valuing the insurance business at ₹6,650 crore.