Home / Companies / Company Results /  Aditya Birla Capital reports 42% rise in Q1 profit
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MUMBAI : Aditya Birla Capital, the holding company for the financial services businesses of the group, on Wednesday reported a net profit of 429 crore in the June quarter of FY23, up 42% from the same period last year.

The company said its retailisation strategy has led to the active customer base growing to 39 million, up 55% y-o-y. It said it has achieved scale across businesses. While the gross premium for life and health insurance grew 53% y-o-y to 3,250 crore, the overall assets under management across asset management, life insurance and health insurance businesses grew 4% y-o-y to 3.55 trillion.

The total lending book of the company -- NBFC and housing finance -- grew 22% year-on-year (y-o-y), to 69,887 crore. Of this, the non-banking financial company (NBFC) loan book grew 26% y-o-y, to 57,839 crore, and the housing finance loan book grew 7% y-o-y to 12,049 crore, with a 94% retail mix. 

The NBFC business, it said saw strong momentum in gross disbursement at 8,039 crore in Q1 of FY23, up 3.1 times over previous year and in line with the business’s focus. The retail, small and medium enterprise (SME), and high networth individual (HNI) segments contributed 73% of Q1 FY23 gross disbursements.

The profit before tax for other financial services businesses under the company grew 41% y-o-y to 75 crore.

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