Aditya Birla Capital posts consolidated net profit of Rs 250 cr in Q3 FY20, up 17% YoY; revenues up 13% at Rs 4645 cr

Aditya Birla Capital’s consolidated profit after tax (after minority interest) in Q3 FY 2019-20 grew by 17% year-on-year to Rs 250 cr, reflecting the strength of the diversified business portfolio, the company said in an exchange filing. Meanwhile, the consolidated revenue of the Company for the quarter grew 13% year on year to Rs 4645 cr. Considering the current business environment, the company continues to follow a disciplined approach in terms of balancing growth with a strong focus on the quality of business, the exchange filing said.

Highlights of Aditya Birla Capital's Q3 results

Lending
--Overall lending book (NBFC and Housing Finance) at Rs 60123 cr
--NBFC and HFC have optimized asset and liability mix with adequate liquidity to meet growth requirements
--Raised around Rs 11000 cr of long-term funds during the nine months
--Continue to have a strong focus on quality and reduced ticket sizes across the board
 
NBFC business
--Loan book at Rs 47933 cr with retail book growing by 30% y-o-y
--Marginal drop in profitability in a challenging market environment
--Net Interest Margin expanded by 41 bps year on year to 5.24%

Housing Finance Business
--Loan book grew y-o-y by 13% to Rs 12190 cr while maintaining Net Interest Margin at 3%
--Cost to Income Ratio improved to 49%, as compared to 58% in the previous year led by the scale and operating efficiencies
--Affordable loan book has grown significantly with 1.8x growth y-o-y
--Quarterly profit after tax grew 31% year on year to Rs 27 cr
 
Insurance
--Total gross premium of life insurance and health insurance grew 18% year on year to Rs 2366 cr  
--Individual First Year Premium (FYP) grew 14% year on year in nine months, maintaining market share
--Consistent improvement in quality with 13th-month persistency improving by 562 bps year on year to 80.9%
--Net value of the new business (VNB) for the quarter grew 2x to 10.4% compared to 5.2% in the previous year
--Continue to focus on balanced channel and product mix for value creation  
-- Health Insurance business- Gross written premium at Rs 547 Crores in nine months, a growth of 73% over the previous year with retail business contributing 71%
--Covering more than 6.5 million lives out of which 3.8 million lives through micro products
--Business continues to build scale with significant improvement in combined ratio during nine months at 142% vs. 160% in the previous year

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Asset Management
--Total average assets under management (AAUM) at our Mutual Fund was Rs 265475 cr