Mumbai: Aditya Birla Capital’s net profit jumped 52 per cent in the fourth quarter aided by strong performance of non-banking financial companies (NBFC), asset management and life insurance business.
The company’s net profit rose to Rs 258 crore in the fourth quarter ended March 31, against Rs 169 crore in the corresponding period a year ago. Aditya Birla CapitalNSE 0.99 % is a holding company for insurance, asset management, lending and asset reconstruction.
NBFC business posted a profit before tax of Rs 352.70 crore against Rs 280.77 crore. The company’s lending book grew 20 per cent by lending to mostly SMEs, retail segments, HNI segment to Rs 51,714 crore.
Life insurance premium grew 60 per cent, boosted by a tie-up with HDFC Bank adding market share of 125 basis points to 4.2 per cent. The value of new business margins improved to 9.5 per cent at the year end.
Srinivasan said that they have tied up with 10 bank partners in health insurance and the business is likely to break even in 2022. Health insurance business did gross written premium of Rs 497 crore. Housing finance profit rose to Rs 40.36 crore from Rs 12.77 crore with assets grow ..
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The company’s net profit rose to Rs 258 crore in the fourth quarter ended March 31, against Rs 169 crore in the corresponding period a year ago. Aditya Birla CapitalNSE 0.99 % is a holding company for insurance, asset management, lending and asset reconstruction.
NBFC business posted a profit before tax of Rs 352.70 crore against Rs 280.77 crore. The company’s lending book grew 20 per cent by lending to mostly SMEs, retail segments, HNI segment to Rs 51,714 crore.
Life insurance premium grew 60 per cent, boosted by a tie-up with HDFC Bank adding market share of 125 basis points to 4.2 per cent. The value of new business margins improved to 9.5 per cent at the year end.
Srinivasan said that they have tied up with 10 bank partners in health insurance and the business is likely to break even in 2022. Health insurance business did gross written premium of Rs 497 crore. Housing finance profit rose to Rs 40.36 crore from Rs 12.77 crore with assets grow ..
For more information Top 10 Stock Advisory Company Indore
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