02 August, 2023
ShareParticulars | Q1 FY23 | Q1 FY24 | Q1-o-Q1 growth |
---|---|---|---|
Revenue1 | 5,862 | 8,144 | 39% |
Profit after Tax (after minority interest) | 429 | 649 | 51% |
Mumbai: Aditya Birla Capital Limited (“The Company”) announced its audited financial results for the quarter ended June 30, 2023.
The Consolidated Revenue1 of the Company grew by 39% year-on-year to Rs8,144 Crore. The consolidated profit after tax grew 51% year-on-year to Rs649 Crore. The strong momentum across businesses led to a 43% year-on-year and 6% sequential growth in the overall lending portfolio (NBFC and HFC) to Rs1,00,400 Crore as on June 30, 2023. Gross premium across life and health insurance grew 19% year on year to Rs3,877 Crore. The total AUM (AMC, life insurance and health insurance) grew by 9 % year-on-year to ~ Rs3.9 lakh Crore.
The Company has a pan-India presence with 1,331 branches across all businesses as of June 30, 2023. The Company’s branch expansion is targeted at driving penetration into tier 3 and tier 4 towns and new customer segments.
The Company follows a ‘Digital First Approach’ for product innovation, direct acquisition, seamless onboarding and service delivery. In Q1 FY24, about 76% of customers were onboarded digitally in the AMC business. In life insurance, 79% of renewals were done digitally in Q1 FY24. In Health Insurance business, 86% business is delivered by auto-underwriting.
1. Segmental Revenue: Aditya Birla Sun Life AMC Ltd., Aditya Birla Wellness Pvt. Ltd and Aditya Birla Health Insurance Ltd. (from October 21, 2022) consolidated based on equity accounting under Ind AS, Consolidated Revenue shown above financial table includes revenues from these businesses on a 100% basis to show holistic financial performance
The Company has seen a strong response to the comprehensive B2B platform for MSMEs, Udyog Plus. There have been more than 48,000 registrations and more than 13,500 loan applications since its launch in March 2023. The Company has recently rolled out Payments Lounge, which is an omni channel collections platform for merchants. It can be integrated with ecommerce platforms and digital platforms of merchants enabling them to make collections seamlessly.
NBFC business:
Housing Finance business:
Asset Management:
Life Insurance business:
Health Insurance business:
Other businesses:
Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group. With subsidiaries/JVs 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 about 38,000 employees, the businesses of ABCL have a nationwide reach with over 1,331 branches, more than 2,00,000 agents/channel partners and several bank partners.
Aditya Birla Capital Limited is a part of the Aditya Birla Group, in the league of Fortune 500. Anchored by an extraordinary force of over 185,000 employees, belonging to 100 nationalities, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, the Group’s businesses have grown into global powerhouses in a wide range of sectors – metals, pulp and fibre, chemicals, textiles, carbon black, telecom, cement, financial services, fashion retail and renewable energy. Today, over 50% of Group revenues flow from overseas operations that span 36 countries in North and South America, Africa, Asia and Europe.
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 World Centre, Tower 1, 18th Floor, Jupiter Mills Compound,
841, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013
www.adityabirlacapital.com