Aditya Birla Capital profit down 27% at Rs 198 crore in June quarter

Aditya Birla Capital on Friday reported nearly 27 per cent fall in consolidated net profit at Rs 198 crore for

June quarter, 2020-21.

The holding company of the financial services businesses of the Aditya Birla group had a profit of Rs 270 crore in the year-ago same period.

The revenue grew 9 per cent year-on- year to Rs 4,293 crore during April-June 2020-21, Aditya Birla Capital Ltd (ABCL) said in a release.

ABCL said the profit during April-June was higher than Rs 144 crore in the preceding March quarter and it provided Rs 62 crore as COVID-19 provisions on its lending businesses during the period under review.

"With 91 per cent of its branches operational with strict health protocols, the company looked to normalise its operations through Q1FY21," it added.

Overall lending book (NBFC and Housing Finance) stood at Rs 58,073 crore as on June 30, 2020.

The company is engaged in lending through NBFC and housing finance. It also has presence in life and health insurance segment and also caters to asset management services, among others.

ABCL stock settled at Rs 59.10 on BSE, up 1.63 per cent from the previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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