BackAditya Birla Capital Q1 result: Net profit down 27% at ₹198 crore
Aditya Birla Capital reported nearly 27% fall in consolidated net profit at ₹198 crore for June quarter 2020-21, as against a profit of ₹270 crore in the year-ago same period
PremiumNEW DELHI : Aditya Birla Capital on Friday reported nearly 27% fall in consolidated net profit at ₹198 crore for June quarter, 2020-21.
The holding company of the financial services businesses of the Aditya Birla group had a profit of ₹270 crore in the year-ago same period.
The revenue grew 9% year-on- year to ₹4,293 crore during April-June 2020-21, Aditya Birla Capital Ltd (ABCL) said in a release.
ABCL said the profit during April-June was higher than ₹144 crore in the preceding March quarter and it provided ₹62 crore as COVID-19 provisions on its lending businesses during the period under review.
"With 91% of its branches operational with strict health protocols, the company looked to normalise its operations through Q1FY21," it added.
Overall lending book (NBFC and Housing Finance) stood at ₹58,073 crore as on June 30, 2020.
The company is engaged in lending through NBFC and housing finance. It also has presence in life and health insurance segment and also caters to asset management services, among others.
ABCL stock settled at ₹59.10 on BSE, up 1.63% from the previous close.
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