Aditya Birla Capital's net profit up 52 pc in March quarter

Aditya Birla Capital Saturday posted a 52 per cent growth in its March quarter net at Rs 258.40 crore on a consolidated basis. The Aditya Birla group's financial services arm had posted a net profit of Rs 169.45 crore in the year ago period. For the fiscal year ended March 31, the company posted a 25 per cent growth in net profit at Rs 870.94 crore.

Its total income for the reporting quarter grew to Rs 4,730.80 crore from the Rs 3,578.44 crore, it informed the stock exchanges. Among the multiple segments that it operates in, the Non Banking Finance Company posted a profit before tax of Rs 352.70 crore against Rs 280.77 crore; housing arm's PBT shot up to Rs 40.36 crore from Rs 12.77 crore, while the same for asset management company grew to Rs 180.21 crore from Rs 151.26 crore.

The overall lending book grew 23 per cent during the year and despite adverse liquidity conditions, the business was able to raise Rs 11,000 crore in long term funds during the second half of the fiscal, the company said.

On the insurance side, the total gross premium for life and general side grew 30 per cent to Rs 8,008 crore, while the total assets under management for the AMC stood at Rs 2.65 lakh crore.