Aditya Birla Capital said on Thursday that its consolidated net profit for the fourth quarter ended March 2023 increased by 35% to Rs 609 crore.
In the prior fiscal year, the holding company for the Aditya Birla Group's financial services operations had a net profit of Rs. 450 crore.
According to Aditya Birla Capital, the company's overall revenue increased during the quarter to Rs 8,052 crore from Rs 6,620 crore a year earlier.
According to the report, operational profit climbed from Rs 608 crore to Rs 832 crore in the fourth quarter of 2022–23.
Gross stage 2 and stage 3 assets decreased by 114 basis points sequentially and 314 basis points annually to 5.84 percent as of March 31, 2023, further demonstrating the company's improving asset quality.
As of March 31, 2023, the provision coverage ratio for gross stage 3 loans increased by 320 basis points sequentially to 46.2 percent.
In comparison to the same quarter a year before, the corporation reported a net profit of Rs 4,796 crore for the fiscal 2022–23.
