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Business News/ Markets / Stock Markets/  Aditya Birla Capital Q4 Results: Net profit rises 35% to 608 crore, NBFC loan book grows 46%
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Aditya Birla Capital Q4 Results: Net profit rises 35% to ₹608 crore, NBFC loan book grows 46%

The revenue of the financial services company came in at ₹9,146 crore in the fourth quarter, reporting a growth of 31 per cent, compared to ₹6,962 crore in the year-ago period.

Kumar Mangalam Birla at the bell ringing ceremony of Aditya Birla Capital at BSE. Photo by Aniruddha Chowdhury/MintPremium
Kumar Mangalam Birla at the bell ringing ceremony of Aditya Birla Capital at BSE. Photo by Aniruddha Chowdhury/Mint

Aditya Birla Capital announced its Q4FY23 results reporting a net profit of 608 crore, registering a growth of 35 per cent compared to 450 crore in the corresponding period last year.  The revenue of the financial services company came in at 9,146 crore in the fourth quarter, reporting a growth of 31 per cent, compared to 6,962 crore in the year-ago period. 

As part of the company's NBFC business, the loan book grew by 10 per cent sequentially and 46 per cent year-on-year to 80,556 crore as of March 31, 2023 backed by 57 per cent year-on-year growth in loans to retail, small, medium enterprises and and high net worth individuals (HNI) customers. The loans to these customers constituted 67 per cent of the total loan book as on March 31, 2023.

The net interest margin (NIM) under NBFC expanded by 52 basis points year-on-year to 6.88 per cent in Q4 FY23 and 60 basis points year-on-year to 6.84 per cent in fiscal 2022-23.

The company's overall lending book (NBFC and HFC) grew 40 per cent year-on-year to 94,364 crore as on March 31,2023 and a 28 per cent year-on-year growth in the gross premium (life and health insurance) to 17,787 crore in FY23.

As part of its health insurance business, the gross written premium grew by 57 per cent year-on-year to 2,717 crore in FY23 with retail contributing 56 per cent of the total business.

A wholly-owned subsidiary, Aditya Birla Capital Digital Limited was established on March 23, 2023 to develop an omni-channel direct to customer (D2C) platform. This platform will serve the existing customers, acquire new customers and act as a one stop-solution to deliver protecting, investing, financing and advising (PIFA) solutions to customers.

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Published: 11 May 2023, 03:12 PM IST
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