Aditya Birla Capital shares corrected 4 percent on May 11 despite double-digit growth in quarterly earnings.
The consolidated profit grew by 35.1 percent year-on-year to Rs 608.6 crore for the quarter ended March FY23, and revenue from operations increased by 21.3 percent to Rs 8,025 crore compared to year-ago period.
"The strong momentum across businesses led to a 40 percent year-on-year growth in the overall lending book (NBFC and HFC) to Rs 94,364 crore as on March 2023, and a 28 percent year-on-year growth in the gross premium (life and health insurance) to Rs 17,787 crore in FY23," Aditya Birla Capital said in its filing to exchanges.
In the financial year 2022-23, consolidated profit surged 181 percent to Rs 4,796 crore and revenue from operations increased by 23.3 percent to Rs 27,416 crore compared to previous fiscal.
The company had around 38 million customers as of March 2023. It opened 247 branches during the year taking the total branch count to 1,295 at the end of March 2023.
Aditya Birla Capital said the board of directors has approved fund raising up to Rs 3,000 crore via equity shares or debt.
The stock was trading at Rs 164.5 on the NSE, up 3.7 percent with 75.4 lakh equity shares at 15:18 hours IST.
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