Business EconomyPosted at: Aug 1 2024 3:50PM


AB Capital net up 15 pc at Rs 745 crore in Q1; Revenues grow 26 pc

New Delhi, Aug 1 (UNI) AB Capital limited, financial services business of the Aditya Birla group, on Thursday said its profit after tax (PAT) has grown 15 per cent to Rs 745 crore y-o-y basis in the first quarter of 2024-25 financial year as against Rs 649 crore in the same quarter of last fiscal.
The consolidated revenue grew by 26 per cent year-on-year to Rs 10,258 crore during the April-June quarter of FY25 compared to Rs 8,144 crore in the same quarter of FY24, the company said in a release.
Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group. Through its subsidiaries/JVs, ABCL provides a comprehensive suite of financial solutions across Loans, Investments, Insurance and Payments to serve the diverse needs of customers across their lifecycle.
The overall lending portfolio (NBFC and HFC) grew by 27 per cent year-on-year to Rs 1,27,705 crore as on June 30, 2024.The total AUM (AMC, life insurance and health insurance) grew by 20 per cent year-on-year to Rs 4,62,891 crore. The total premium (life insurance and health insurance) grew by 30 per cent year-on-year to Rs 5,027 crore.
The Company has a pan-India presence of 1,505 branches across all businesses as of June 30, 2024. The branch expansion is targeted at driving penetration into tier 3 and tier 4 towns and new customer segments, the company stated.
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