Aditya Birla Capital's Net Profit Falls 44.2% to Rs 144 Crore in March Quarter
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Aditya Birla Capital Ltd (ABCL) on Friday reported a 44.2 per cent decline in its consolidated net profit to Rs 144 crore for the fourth quarter of the financial year ended March 2020. The company had registered a net profit of Rs 258 crore in the corresponding quarter of the previous financial year.
Revenues during the three months to March 2020 grew to Rs 5,122 crore, from Rs 5,050 crore in the corresponding period of 2018-19.
For the full year 2019-20, net profit increased by 5.6 per cent to Rs 920 crore as against Rs 871 crore in the previous financial year 2018-19, ABCL said in a regulatory filing.
Income during the year was up by 9 per cent at Rs 18,028 crore, from Rs 16,570 crore in the previous financial year. ABCL said it raised over Rs 15,000 crore of long-term funds during the year.
Aditya Birla Capital's retailisation strategy has led to the active customer base growing to nearly 20 million, while the overall assets under management (AUM) across asset management, life insurance and health insurance was over Rs 3 lakh crore, it said in a statement.
Gross premium across life and health insurance grew to Rs 8,882 crore. The overall lending book stood under Rs 60,000 crore, it said.
With respect to its non-banking finance business, Aditya Birla Capital said it made additional coronavirus-related provisions of Rs 163 crores in the fourth quarter of 2019-20.
Aditya Birla Capital is the holding company for the financial services businesses of the Aditya Birla group. Shares of the company closed 5.97 per cent higher at Rs 55.95 apiece on the BSE.