AB Capital gains as Q2 PAT rises 30% YoY to 488 cr

7 Nov 2022 , 04:19 PM

The company said it delivered highest ever quarterly consolidated profit and recorded strong quarterly performance with accelerated growth momentum across businesses. Profit before tax (PBT) rose 30.45% year on year to Rs 690.40 crore in the quarter ended 30 September 2022. Total expenses rose 20.83% year on year to Rs 6,239.80 crore during the period under review. The company added 2 million customers during the quarter, leading to a 47% year on year growth in the total customer base to 41 million. The overall AUM across asset management, life insurance and health insurance businesses de-grew 3% year on year, to Rs 3.6 lakh crore. The overall lending book (NBFC and housing finance) grew 31% year on year, to Rs 77,430 crore. The gross premium (across life and health insurance) for the quarter grew 24% year on year to Rs 4,394 crore. The asset management business reported 5.8% year on year decline in assets under management with AAUM at Rs 2,93,787 crore. Aditya Birla Capital is the holding company for the financial services businesses of the Aditya Birla Group. Powered by Capital Market – Live News