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Aditya Birla Capital AGM Highlights: FY22 revenue grew 15%; health biz achieved break-even in Q4

The company's consolidated profit after tax (after minority interest) grew 51 percent year-on-year to Rs 1,706 crore during the financial year 2021-22.

August 27, 2022 / 04:30 PM IST
Kumar Mangalam Birla

Kumar Mangalam Birla

 
 
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Leading financial services firm Aditya Birla Capital held its annual general meeting (AGM) on August 26 (Friday) and highlighted the company's key financial figures throughout FY22 along with the first quarter of the current fiscal - FY23.

“The turn of the decade felt like a moment of departure,” said Aditya Birla Group chairperson Kumar Managalam Birla at the AGM of Aditya Birla Capital Ltd.

He said that the COVID-19 pandemic in 2020 and the supply chain whiplash made 2020 and 2021 unprecedented years, and disruption now feels like “business as usual”.

Also Read: Aditya Birla Capital reports highest ever quarterly profit at Rs 429 crore in June quarter

Here are the key highlights from Aditya Birla Capital's AGM FY22:

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- Despite the headwinds in the economy, the revenue at Aditya Birla Capital for FY22 grew 15 percent year-on-year (YoY) to over Rs 22,000 crore, said Mr Birla during his speech at the AGM.

- The company's consolidated profit after tax (after minority interest) grew 51 percent YoY to Rs 1,706 crore during the financial year 2021-22.

- Overall lending book in FY22 (NBFC and Housing Finance) grew 11 percent YoY to Rs 67,185 crore, of which retail, SME and HNI segments now account for 68 percent of the total lending book, making it a leading portfolio of scale.

- The Health insurance business achieved break even in Q4 FY22 (excluding the COVID claims), in line with guidance and well ahead of the industry benchmarks.

- During the first quarter of FY23, the consolidated revenue grew 30 percent YoY to Rs 5,590 crore, compared to Rs 4,299 crore in the corresponding period of the previous year.

- The consolidated net profit after tax (after minority interest) grew 42 percent YoY to Rs 429 crore, marked by strong growth across businesses in the first quarter of FY23.

- The NBFC loan book grew 26 percent over the last fiscal to Rs 57,839 crore during Q1FY23. Within that, retail and SME segments grew 39 percent YoY.

- The total gross premium of the life insurance and health insurance businesses grew 53 percent YoY to Rs 3,250 crore during Q1FY23. The individual First Year Premium (FYP) for the life insurance business in Q1 grew 26 percent YoY.

- The gross written premium of the health insurance business in Q1 grew 71 percent over the previous year to Rs 630 crore.
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