Aditya Birla Financial Services Group registers robust growth in Q1 2010-2011

The Aditya Birla Financial Services Group (ABFSG) has built a significant presence across its verticals, viz., life insurance, asset management, private equity, NBFC, broking, insurance advisory and wealth management & distribution.

The consolidated revenues of ABFSG, for Q1 2010-11, crossed Rs. 1277 crores, registering a y-o-y growth of 22.5% over Rs. 1043 crores revenue attained in Q1 last year.

The consolidated Profit before Tax grew significantly to Rs. 78 crores as against a loss of Rs. 90 crores in Q1 last year.

Commenting on the performance, Ajay Srinivasan, Chief Executive – Financial Services, Aditya Birla Group said, “We are committed to being a leader and role model in a broad-based and integrated business and the customer will always be at the center of our strategy.”

He further added, “We remain inspired by the India opportunity and the strong growth and savings pool that remains to be tapped to its full potential. All our business verticals entered the new year with their sights set on this potential and have delivered continued growth, in keeping with our momentum of recent years.”Aditya Birla Finance NBFC

Highlights for the Quarter:

Consolidated revenues for the financial services businesses was at Rs. 1,277 crores, registering growth of 22.5% (y-o-y)

Profit Before Tax of Rs. 78 crores, as against a loss of Rs. 90 crores (y-o-y)

Birla Sun Life Insurance registers profit for the first time, since inception

The market share for Birla Sun Life Mutual Fund rose to 9.34% at the end of Q1 as against 8.34% at the end of March 2010

Aditya Birla Money Mart ranked as the 2nd largest corporate distributor in terms of Assets under advice (AUA), as on 30th June, 2010 (CAMS report)

Aditya Birla Finance (NBFC)

Total book size of Rs. 1,205 crores reflecting an 18% quarter on quarter (q-o-q) growth
The book size of the company’s core lending business (CMG+CFD) itself crossed an important milestone by clocking Rs. 1,080 crores, a q-o-q growth of 42%
Quarter revenues grew 29%, to Rs. 25 crores. The PBT stood at Rs. 11 crores

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