Aditya Birla Capital Posts A 35% YoY Increase In Q4 Consolidated Net Profit To Rs 609 Crore

Aditya Birla Capital on Thursday announced a 35 per cent increase in consolidated net profit to Rs 609 crore in the fourth quarter ended March 2023.

The Aditya Birla Group's holding company for its financial services operations reported a net profit of Rs. 450 crore for last financial year.

According to a regulatory statement from Aditya Birla Capital, the company's total revenue increased during the quarter to Rs 8,052 crore from Rs 6,620 crore the previous year.

In the final quarter of 2022-23, operating profit rose to Rs. 832 crore from Rs. 608 crore the previous period, it was reported.

Gross stage 2 and stage 3 assets decreased by 114 basis points sequentially and 314 basis points annually to 5.84 percent as of March 31, 2023, further demonstrating the company's improving asset quality.

As of March 31, 2023, the provision coverage ratio for gross stage 3 loans increased by 320 basis points sequentially to 46.2 percent.

In comparison to the same quarter a year prior, the corporation reported a net profit of Rs 4,796 crore for the fiscal 2022-23.