Aditya Birla Capital March quarter profit rises 91% at Rs208 crore
Aditya Birla Capital reports a rise of 91% in its consolidated net profit at Rs208 for the quarter ended March of 2017-18 against Rs109 crore in the same period a year ago
New Delhi: Aditya Birla Capital on Tuesday reported a rise of 91% in its consolidated net profit at Rs208 for the quarter ended March of 2017-18 against Rs109 crore in the same period a year ago.
Income during the quarter grew to Rs4,203 crore from Rs3,353 crore. For full year, net profit increased by 44% to Rs824 crore from Rs573 crore in 2016-17. Income for the year rose to Rs13,428 crore from Rs11,071 crore, it said in a regulatory filing.
The company said it will raise up to Rs3,500 crore by various means, including equity, preference shares and debt instruments. The board of directors approved raising of funds by way of issuance of equity shares, global depository receipts, foreign currency convertible bonds, non-convertible debentures or any other financial instruments convertible into equity shares in one or more tranches, Aditya Birla Capital said in the filing.
The company said the money will be raised through one or more public or private offerings, qualified institutions placement or any other combination for an aggregate.
The company has to seek approval from its shareholders for this fund raise plan consideration of up to Rs3,500 crore. The lending book rose by 32% year on year to reach Rs51,378 crore as on 31 March 2018, it said.
Aditya Birla Capital is the holding company of financial services business of the Birla group with presence in insurance, asset management, private equity, corporate lending, project finance, wealth management, among others.
Stock of the company closed 1.49% higher at Rs160.25 apiece on BSE today.
- Jet Airways to make part payment of September salary to senior staffers on October 25
- Q2 results: HDFC Bank net profit rises 20.6% to Rs 5006 crore
- Govt, board eye asset sales to turn IL&FS around in six months
- Jet Airways sets jet sale, leaseback plan in motion to raise $800 mn
- Lenders accept ArcelorMittal resolution plan for Essar Steel
Editor's Picks »
- Policy rethink and higher volumes to aid container shippers
- DCB Bank delivers a strong Q2 but pressure on margins foreseen
- Havells India: Rising costs give a jolt to profitability in September quarter
- All’s well at Mindtree, except for high client concentration risk
- India’s rising steel demand is making companies starry-eyed