Aditya Birla Capital reported a consolidated net profit of Rs 812 crore for the March quarter, marking a robust 33% year-on-year increase, primarily attributed to the growth in its lending portfolio. The company’s lending portfolio, supported by two subsidiaries, Aditya Birla Finance and Aditya Birla Housing Finance, witnessed a significant surge, rising by 31% year-on-year to Rs 1.2 trillion as of March 31, with an additional 8% sequential growth.
Aditya Birla Finance observed a 16% year-on-year increase in disbursements to Rs 18,123 crore in Q4FY24, with retail, small and medium-sized enterprises (SMEs), and high net-worth individuals constituting 67% of its loan portfolio. Gross stage 2 and 3 assets declined by 135 basis points year-on-year to 4.49% as of March 31. Meanwhile, Aditya Birla Housing Finance witnessed a substantial 64% year-on-year growth in disbursements to Rs 2,933 crore in the quarter, with gross stage 2 and 3 assets decreasing by 208 basis points year-on-year to 2.91% as of March 31.
Expanding its MSME footprint, Aditya Birla Capital continued its focus on Udyog Plus, a business-to-business platform, which recorded disbursements of Rs 500 crore. The company’s physical presence expanded to 1,474 branches across all businesses as of March 31, targeting penetration into tier 3 and tier 4 towns and new customer segments.
The company’s total non-lending assets under management surged by 21% year-on-year to Rs 4.4 trillion, encompassing asset management, life insurance, and health insurance businesses. The total premium of the life insurance and health insurance business escalated by 18% year-on-year to Rs 20,961 crore in FY24.
