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Aditya Birla Capital Q3 net up 26.69% on all-round growth

PTI mumbai
Updated: 05-02-2019 20:42 IST
Aditya Birla Capital Q3 net up 26.69% on all-round growth

Aditya Birla Capital Tuesday reported a 26.69 percent jump in its December quarter consolidated net profit at Rs 193.65 crore, helped by an all- round growth across all its arms. The Aditya Birla Group company, which has interests in lending, life insurance, asset management, general insurance broking and health insurance, had reported a net of Rs 152.85 crore in the year-ago period.

Its total income surged to Rs 3,782 crore, up from the Rs 2,927 crore in the year-ago period, while the profit before tax stood at Rs 338.31 as against Rs 255.98 crore in the same period last year. From a pre-tax profit perspective, the non-bank finance company bottomline inched up to Rs 323.13 crore, housing finance had a healthy growth to Rs 32.30 crore and life insurance noted a halving at Rs 32 crore, while the losses at health insurance narrowed to Rs 53.51 crore.

In a statement, the company said its lending grew 29 percent during the reporting period and stressed that the same is backed by healthy assets and it was able to raise over Rs 9,000 crore in debt amid the liquidity concerns. The NBFC's net interest margins expanded 0.37 percent to 4.85 percent on a higher contribution from the high net individual business, while the housing finance book grew 60 percent.

The total gross premium of life insurance and health insurance grew by 39 percent to Rs 1,998 crore, it said. The company will continue to build on its presence across sectors, the statement said.

The company scrip closed 1.09 per cent down at Rs 81.70 a piece on BSE in a flat market..