Aditya Birla Capital Ltd., on Wednesday reported a 42% increase in consolidated net profit to Rs 1,001 crore in the second quarter ended September 2024. The financial services arm of Aditya Birla Group earned a net profit of Rs 705 crore in the same quarter in the previous financial year.
The consolidated profit after tax includes a gain of Rs 167 crore on sale of entire stake of 50% in Aditya Birla Insurance Brokers Ltd., Aditya Birla Capital said in a regulatory filing.
The total income increased to Rs 10,362 crore during the quarter under review against Rs 7,615 crore in the same quarter last year, it said.
Its interest income rose to Rs 4,141 crore compared to Rs 3,444 crore in the same quarter a year ago.
Total expenses also increased to Rs 9,034 crore during the second quarter as regards Rs 6,671 crore in the same period previous year.
The total Asset Under Management (AMC, life insurance and health insurance) grew by 24% to Rs 5,01,152 crore as on Sept. 30, 2024.
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