Aditya Birla Capital Reports Impressive Financial Growth in Q4 FY24

Aditya Birla Capital Limited has released its audited financial results for the quarter and year ending March 31, 2024, showcasing remarkable growth in revenue and profit.

The company’s consolidated revenue surged by 32% year-on-year to Rs. 12,079 Crore in Q4 FY24 and reached Rs. 39,050 Crore in FY24. Profits after tax, excluding one-off items, also showed substantial growth of 33% year-on-year to Rs. 812 Crore in Q4 FY24 and 41% to Rs. 2,902 Crore in FY24.

Amidst this growth, Aditya Birla Capital’s lending portfolio expanded by 31% year-on-year, with a total lending portfolio (NBFC and HFC) of Rs. 1,24,059 Crore as of March 31, 2024. The total Assets Under Management (AUM) grew by 21% year-on-year to Rs. 4,36,442 Crore.

One of the key highlights was the launch of the D2C platform, ABCD, offering a range of financial products and services to customers in a user-friendly interface. With over 1 lakh registrations, the platform has been well-received, indicating a positive market response.

Moreover, Aditya Birla Capital continues to focus on the MSME segment through its B2B platform, Udyog Plus, which has witnessed over 8 lakh registrations. Udyog Plus provides a digital, paperless process for business loans and has disbursed around Rs. 500 Crore to date.

The Company’s physical presence has also grown with 1,474 branches nationwide as of March 31, 2024, targeting increased penetration in tier 3 and tier 4 towns.

During Q4 FY24, Aditya Birla Capital and Sunlife divested stakes in ABSL AMC to meet SEBI regulations, receiving a positive investor response. This move bolstered the company’s balance sheet and enhanced its capital base by approximately Rs. 570 crore.