Aditya Birla Capital Q1 results: Net profit jumps 17% to Rs 758 crore

Sales of the company rose 25.37 percent to Rs 8832 crore in the quarter ended June 2024 as against Rs 7044 crore during the previous quarter ended June 2023.

Aditya Birla Capital on August 1 reported a net profit of Rs 758 crore for the first quarter of fiscal year 2025. The company recorded a 17 percent jump in its net profit on a year-on-year basis compared to Rs 649 crore last year.

Sales of the company rose 25.37 percent to Rs 8,832 crore in the quarter ended June 2024 as against Rs 7,044 crore during the previous quarter ended June 2023.

The company's lending to non-banking financial company (NBFC) jumped 21 percent to Rs 1.07 lakh crore. The domestic asset under management (AUM) of asset management business of the company jumped 27 percent to Rs 3.52 lakh crore. The company's chief executive officer Vishakha Mulye, in a post results analyst call said that the company saw some pressure on personal loan front and going ahead will look at aggressively expanding personal loan. "We will use our newly ABCD application to grow our personal loan business," Mulye said.

On the mutual fund side, the total AUM of the company stood at Rs 3.52 lakh crore. The gross premium of the company stood at Rs 5,027 crore, up 30 percent YoY.

In an exchange notification, the company also informed that it has appointed Santosh Haldankar as Company Secretary and Compliance Officer of the Company with effect from 01 August 2024.

Shares of the company closed for trading at Rs 219.95, 3.06 percent down on BSE.