Aditya Birla Capital reports strong results for the year ended 31st March, 2022
Chandigarh, (Aditi) : Aditya Birla Capital Limited (“The Company”) announced its audited financial results for the quarter and year ended 31st March 2022.
In FY2021-22, The Consolidated Revenue1 of the Company grew 16% year on year to Rs. 23,633 Crore. The consolidated profit after tax (after minority interest) grew 51% year on year, to Rs. 1,706 Crore, the highest ever recorded by the Company. The reported consolidated PAT includes a net gain of Rs. 161 Crore from the sale of ~1% stake of the Company’s 51% stake in ABSLAMC, through its IPO in October 2021.
During Q4 FY2021-22, the consolidated revenue grew 18% year on year to Rs. 6,962 Crore and profit after tax increased by 20% year on year to Rs. 450 Crore.
The Company’s retailisation strategy has led to the active customer base growing to a significant ~ 35 million, a 36% year on year growth. The scale achieved by the Company’s subsidiaries is evident, with overall AUM across asset management, life insurance and health insurance businesses growing 10% year on year, to Rs. 3,70,608 Crore, making it one of the largest fund managers in the country. The overall lending book (NBFC and Housing Finance) grew 11% year on year, to Rs. 67,189 Crore, making it a lending portfolio of scale. The gross premium (across Life and Health Insurance) grew 25% year on year to Rs. 13,867 Crore, reflecting the scale in the insurance businesses.
Mr Ajay Srinivasan, Chief Executive, Aditya Birla Capital Limited, said “The Company has built an integrated platform with high quality, significant scale and a retail franchise of ~ 35 million active customers. We have tripled our profits over the last 5 years and nearly doubled our profit over the last two years, in spite of the several external challenges. Our integrated and diversified model backed by our motivated teams have helped us deliver consistent growth in profitability across economic cycles and record results this fiscal. The Company is well placed to capitalise on its strong franchise and the future opportunities in the financial services space”