ADITYA BIRLA CAPITAL LIMITED
The Consolidated Revenue1 of the Company grew by 39% year-on-year to
The Company has a pan-
The Company follows a 'Digital First Approach' for product innovation, direct acquisition, seamless onboarding and service delivery. In Q1 FY24, about 76% of customers were onboarded digitally in the AMC business. In life insurance, 79% of renewals were done digitally in Q1 FY24. In
Segmental Revenue:
The Company has seen a strong response to the comprehensive B2B platform for MSMEs, Udyog Plus. There have been more than 48,000 registrations and more than 13,500 loan applications since its launch in
The performance highlights of the key businesses of
Loan portfolio grew by 49% year-on-year and 7% sequentially to
Loans to retail, SME and HNI customers constitute 67% of the total loan portfolio
Net interest margin (NIM) expanded by 43 basis points year-on-year and 10 basis points sequentially to 6.98%
Profit before tax grew by 51% year-on-year and 14% sequentially to '
Return on assets and return on equity remained healthy at 2.54% and 17.89% respectively
Asset quality continued to improve with gross stage 2 and 3 assets declining by 345 basis points year-on-year and 37 basis points sequentially to 5.46%
Housing Finance business: Disbursements grew by 83% year-on-year to
Loan book grew by 19% year-on-year and 5% sequentially to
NIM expanded by 34 basis points year-on-year and 8 basis points sequentially to 5.11%
Profit before tax grew by 18% year-on-year to
Return on assets and return on equity remained healthy at 1.90% and 13.23% respectively
Asset quality continued to improve with gross stage 2 and 3 assets declining by 401 basis points year-on-year and 21 basis points sequentially to 4.78%
Asset Management: Mutual fund quarterly average assets under management (QAAUM) increased by 5% year-on-year and 8% sequentially to
The proportion of equity in overall mutual fund QAAUM was 39.9%
Individual monthly average assets under management grew by 14% year-on-year, to
Monthly systematic investment plan (SIP) inflows grew by 10% year-on-year to
In line with the focus on growing passive and alternate assets business, passive AUM grew more than two times year-on-year to
Profit before tax grew by 70% year-on-year to
Individual First Year Premium (FYP) grew by 32% year-on-year to
Group new business premium grew by 20% year-on-year to
Renewal premium grew 12% year-on-year to
13th month persistency continued to improve and was 88% in
Net VNB margin expanded by 935 bps year-on-year to 11.8%
Market share among standalone health insurers was 11.6%
Combined ratio was 117% in Q1 FY24
The net loss reduced to
Other businesses: Profit before tax for other financial services businesses (general insurance broking, stock and securities broking, and stressed assets platform) of the Company grew by 20% year-on-year to
About
Disclaimer: Certain statements in this 'Media Release' may not be based on historical information or facts and may be 'forward looking statements' within the meaning of applicable securities laws and regulations, including, but not limited to, those relating to general business plans & strategy of the Company, its future outlook & growth prospects, future developments in its businesses, its competitive & regulatory environment and management's current views & assumptions which may not remain constant due to risks and uncertainties. Actual results could differ materially from those expressed or implied. The Company assumes no responsibility to publicly amend, modify or revise any statement, on the basis of any subsequent development, information or events, or otherwise. This 'Press Release' does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the Company's shares.
Contact:
Tel: +91-22-6652-5000
Email: sandeep.gurumurthi@adityabirla.com
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