Aditya Birla Capital reports results for the quarter ended 30th June 2020
Posted on: 08/Aug/2020 6:31:09 AM
Aditya Birla Capital Limited (“The Company”) announced its unaudited financial results for the quarter ended 30th June 2020.
The Consolidated Revenue of the Company grew 9% year on year to Rs. 4,293 Crore. The Company, through its subsidiaries, continued its consistent delivery of profit through its diversified business model. The consolidated profit after tax (after minority interest) grew 1.4 times over Q4 FY20 to Rs. 198 Crore, marked by resilience across businesses. This is after providing an additional Rs. 62 Crore as COVID provisions in its lending businesses in Q1 FY21.
With 91% of its branches operational with strict health protocols, the company looked to normalize its operations through Q1 FY21. The Company will continue to monitor developments in the market as lockdowns get lifted. Aggregated2 operating expenses (excluding volume linked and Health Insurance business) have reduced 10% over the last quarter.
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