Aditya Birla Capital Reports Impressive 42% Profit Surge

Aditya Birla Capital announced a substantial 42% rise in net profit for Q2 2024, reaching Rs 1,001 crore. This increase was partly attributed to a gain from the sale of its stake in Aditya Birla Insurance Brokers. Total income and assets under management also saw significant growth.

In a remarkable financial performance, Aditya Birla Capital reported a 42% increase in consolidated net profit, amounting to Rs 1,001 crore for the second quarter ending September 2024. This is a significant jump from the Rs 705 crore reported in the same period last financial year.

The financial services arm of the Aditya Birla Group attributes this growth partly to a Rs 167 crore profit from the complete divestment of its 50% stake in Aditya Birla Insurance Brokers Limited. The company's filing highlighted this strategic financial maneuver as a key factor in its robust performance.

The period also saw a marked increase in total income, rising to Rs 10,362 crore from Rs 7,615 crore the previous year, and a 24% growth in total assets under management, now standing at Rs 5,01,152 crore as of September 30, 2024. Despite a rise in total expenses, these figures underscore Aditya Birla Capital's strong position in financial services.

(With inputs from agencies.)