Aditya Birla Capital Q2 profit up 44% to Rs 705 crore

Aditya Birla Capital on Friday reported a 44 per cent rise in profit at Rs 705 crore on a consolidated basis for the quarter ended September 2023.

It had posted a net profit of Rs 488 crore in the same period a year ago.

The total consolidated revenue of the company grew by 22 per cent to Rs 8,831 crore in the July-September period of 2023-24, from Rs 7,210 crore in the same quarter a year ago, Aditya Birla Capital Ltd (ABCL) said in a release.

The company is present in non-banking finance (NBFC) business, housing finance, asset management, life and general insurance, among others.

ABCL is the holding company for the financial services businesses of the Aditya Birla Group.

The strong momentum across businesses led to a 41 per cent year-on-year growth in the overall lending portfolio (NBFC and HFC) to Rs 1,08,961 crore as on September 30, 2023, it said.

The total AUM (AMC, life insurance and health insurance) grew by 12 per cent year-on-year to Rs 4,04,354 crore.