FII’s new favourite: Net profit rises 102 per cent to reach Rs 1,288 crore!
The total lending portfolio reached Rs 1,24,059 crore, showing a year-on-year increase of 31 per cent and a quarter-on-quarter increase of 8 per cent.
Today, the shares of Aditya Birla Capital Limited plunged 0.38 per cent. The company's current market capitalization standing at Rs 57,371.28 crore.
Stock performance:
On Tuesday, the stock opened at Rs 224.15, with the previous closing being Rs 222.60. The 52-week high and low are Rs 243.60 and Rs 155, respectively as per BSE.
Recent Development – FY24 Highlights:
In FY24, the company's top line surged to Rs 10,940 crore, marking a significant increase of 36.32 per cent compared to the same period last year. Operating profit followed suit, reaching Rs 3,621 crore, showing a substantial rise of 60.29 per cent compared to Q4FY23. Additionally, the bottom line saw a remarkable gain, with reported profits standing at Rs 1,288 crore, showing an impressive increase of 102.5 per cent from the previous year.
Moreover, the company witnessed notable growth in its lending portfolio and assets under management (AUM). The total lending portfolio reached Rs 1,24,059 crore, showing a year-on-year increase of 31 per cent and a quarter-on-quarter increase of 8 per cent. Similarly, the total AUM rose to Rs 4,36,442 crore, reflecting a YoY increase of 21 per cent and a QoQ increase of 6 per cent.
In terms of gross premium, the company recorded Rs 20,961 crore in FY24, reflecting an 18 per cent YoY increase. These figures indicate a robust performance across various financial metrics, showcasing the company's strong growth trajectory and financial stability.
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About the Company:
Aditya Birla Capital Limited serves as the holding company for the Aditya Birla Group's financial services ventures. It operates as a comprehensive financial solutions provider, addressing the varied financial requirements of its customers throughout their life journeys.
The ownership pattern of the company's shares indicates a rise in the interest of foreign investors. In December 2023, foreign investors held 9.77 per cent of the shares, which increased to 10.92 per cent by March 2024, marking an 11.77 per cent rise in interest. This increase in foreign holding is a positive sign for the company, suggesting that it might perform well in the near future.
Furthermore, the stock has experienced significant buying activity, yielding returns of more than 35 per cent in the last one year.
Disclaimer: The article is for informational purposes only and not investment advice.