07 August, 2020
ShareParticulars | Quarter 1 FY 20 |
Quarter 4 FY 20 |
Quarter 1 FY 21 |
---|---|---|---|
Revenue1 | 3,943 | 5,094 | 4,293 |
Profit after Tax (after minority interest) | 270 | 144 | 198 |
Mumbai: Aditya Birla Capital Limited (“The Company”) announced its unaudited financial results for the quarter ended 30th June 2020.
The Consolidated Revenue of the Company grew 9 per cent year on year to Rs.4,293 Crore. The Company, through its subsidiaries, continued its consistent delivery of profit through its diversified business model. The consolidated profit after tax (after minority interest) grew 1.4 times over Q4 FY20 to Rs.198 Crore, marked by resilience across businesses. This is after providing an additional Rs.62 Crore as COVID provisions in its lending businesses in Q1 FY21.
With 91 per cent of its branches operational with strict health protocols, the company looked to normalise its operations through Q1 FY21. The Company will continue to monitor developments in the market as lockdowns get lifted. Aggregated2 operating expenses (excluding volume linked and Health Insurance business) have reduced 10 per cent over the last quarter.
1 Aditya Birla Sun Life AMC Ltd. and Aditya Birla Wellness Pvt. Ltd. consolidated based on equity accounting under Ind AS, Consolidated Revenue shown above includes revenues from these two businesses on a 100% basis to show holistic financial performance
2 Excluding Aditya Birla Health Insurance operating expenses given the business is scaling up and on path to break-even
The performance highlights of the key subsidiaries of Aditya Birla Capital Ltd. were:
Total gross premium of life insurance and health insurance grew 38 per cent year on year to Rs.1,936 Crore.
Other businesses
Aditya Birla Capital has a diversified portfolio of businesses catering to the lifetime money needs of its customers. This diversification also allows the company to capture opportunities in different segments of the market and deliver consistent growth.
About Aditya Birla Capital Ltd.
Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group. With subsidiaries that have a strong presence across Protecting, Investing and Financing solutions, ABCL is a financial solutions group that caters to diverse needs of its customers across their life cycle. Powered with more than 21,000 employees, the subsidiaries of ABCL have a nationwide reach with 850+ branches and more than 2,00,000 agents/channel partners and several bank partners.
Aditya Birla Capital is a part of the Aditya Birla Group, a USD 48.3 billion Indian multinational, in the league of Fortune 500. Anchored by an extraordinary force of over 120,000 employees, belonging to 42 nationalities, the Aditya Birla Group operates in 36 countries across the globe.
Disclaimer: Certain statements in this “Media Release” may not be based on historical information or facts and may be “forward looking statements” within the meaning of applicable securities laws and regulations, including, but not limited to, those relating to general business plans & strategy of the Company, its future outlook & growth prospects, future developments in its businesses, its competitive & regulatory environment and management's current views & assumptions which may not remain constant due to risks and uncertainties. Actual results could differ materially from those expressed or implied. The Company assumes no responsibility to publicly amend, modify or revise any statement, on the basis of any subsequent development, information or events, or otherwise. This “Press Release” does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the Company’s shares. The financial figures in this “Press Release” have been rounded off to the nearest Rs.one Crore. The financial results are consolidated financials unless otherwise specified.
Aditya Birla Capital Limited
Corporate Identity Number L67120GJ2007PLC058890
Regd. Office: Indian Rayon Compound, Veraval 362 266 (Gujarat)
Corporate Office: One Indiabulls Centre, Tower 1, 18th Floor, Jupiter Mills Compound,
841, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013
Follow us at : www.adityabirlacapital.com / www.twitter.com/abcapital