Aditya Birla Capital Ltd (ABCL) reported a 53 per cent jump in fourth quarter consolidated net profit at Rs 258 crore against Rs 169 crore in the year ago period.
ABCL has underlying businesses including non-banking finance company (NBFC), housing finance, life insurance, health insurance, and asset management.
In the reporting quarter, total revenue from operations increased 32 per cent year-on-year (yoy) to Rs 4,730 crore. Total expenses went up 30 per cent yoy to Rs 4,389 crore.
Total financial assets, including loans and investments, were up 17 per cent yoy, standing at Rs 107,010 crore as on March-end 2019.
Lending book (NBFC and Housing Finance) grew 23 per cent yoy to Rs. 63,119 Crores vs. Rs 51,379 Crores in the previous year.
The company, in a statement, highlighted that it raised about Rs. 11,000 crores of long-term funds during H2 (October 2018-March 2019) FY 19 despite liquidity headwinds across industry.
Ajay Srinivasan, CEO, ABCL, emphasised that all the engines (businesses) are firing. Broadly, in FY2020, the life insurance business should see a topline growth of 30-35 per cent; NBFC and housing finance should see a growth of 22-25 per cent and 40-50 per cent, respectively.
For the full year, ABCL reported a 26 per cent yoy increase in consolidated net profit at Rs 871 crore (Rs 693 crore in FY2018).
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.