Aditya Birla Housing Finance’s net profit increased 14.97 per cent to Rs. 59.30 crores in the September 2022 quarter, compared to Rs. 51.58 crores in the September 2021 quarter.
Aditya Birla Housing Finance’s sales increased by 14.02 per cent to Rs. 343.70 crores in the September 2022 quarter, compared to Rs. 301.44 crores in the September 2021 quarter.
Particulars of the September quarter 2022: Sep.2021% Var.Sales 343.70301.44 14 OPM 75.2580.46 -PBDT 79.2368.29 16 PBT 75.7365.79 15 NP 59.305.18.
In Friday’s intraday trade, Aditya Birla Sun Life AMC NSE-1.14 % shares fell 7.6% to Rs. 400 after the company’s sales decreased 6% to Rs. 311.09 crores in the quarter that ended September 2022, compared to Rs. 331.97 crores in the previous fiscal quarter.
However, for the September 2022 quarter, the asset management company reported an 11% increase in profit after tax (PAT) to Rs. 191.68 crores. In the same quarter of the previous fiscal year, the company reported a PAT of Rs. 173.07 crores.
The company’s total revenue increased from Rs. 372.2 crores a year ago to Rs. 387.66 crores during the period under review.
Additionally, Vishakha Mulye has been appointed to the company’s board of directors as an additional non-executive director.
In the quarter that ended on September 30, the asset management company served approximately 8.1 million investor folios and managed more than Rs. 2.94 lakh crores in assets. The scrip was trading at Rs. 415, 4 per cent lower than its previous day’s closing price of Rs. 433 per unit, at 12.09 a.m.
In the last six months, the stock has lost nearly 21%, while over the past year, it has lost about 34%. The data from Trendline indicates that the highest target for the stock is Rs. 650, while the average estimate of Rs. 530.5 indicates a potential upside of approximately 27% from the current prices.
Four of the six analysts covering the stock have strong buy recommendations, one has a buy recommendation, and one has a hold recommendation.
For the September 2022 quarter, Aditya Birla Sun Life AMC reported an 11% increase in Profit After Tax (PAT) to Rs. 191.68 crores.
The fund house stated in a regulatory filing that the company had posted a PAT of Rs. 173.07 crores in the same quarter of the previous fiscal year.
Its total revenue increased from Rs. 372.2 crores a year ago to Rs. 387.66 crores during the period under review.
Additionally, Vishakha Mulye has been appointed to the company’s board of directors as an additional non-executive director.
In the quarter that ended on September 30, the asset management company served approximately 8.1 million investor folios and managed more than Rs. 2.94 lakh crores in assets.
In October 2021, Sun Life Financial Inc. of Canada and Aditya Birla Group jointly owned and supported Aditya Birla Sun Life AMC.
On the BSE, the company’s shares closed 1.44 per cent higher at Rs. 433.50 each.
The launch of India’s first instant policy issuance service on WhatsApp has been announced by Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL).
To launch this service for insurance applicants, ABSLI has collaborated with Meta-owned WhatsApp, the world’s most popular communication channel, Gupshup, a leading conversational engagement platform, Karza Technologies, one of the largest data analytics, automation, and decision solution providers to FIs, and Meta.
“Today the customer is increasingly becoming digital and is available on platforms like WhatsApp, so it was imperative for us to be where our customers are,” stated Kamlesh Rao, MD and CEO of Aditya Birla Sun Life Insurance.
In addition, providing life insurance products from beginning to end on WhatsApp would significantly simplify, secure, and streamline the insurance purchasing process. It would unquestionably contribute to expanding insurance coverage among the technologically savvy generation.
“ABSLI is the first life insurance company in India to offer life insurance products from onboarding to issuance via WhatsApp.” Gupshup’s conversational engagement solutions and Karza’s APIs complete KYC and make it possible for services like quote generation, premium payment, and underwriting to be performed entirely in real-time on WhatsApp.
In addition, it has built-in security features like face and name match and mobile number validation, eliminating the possibility of fraud during the journey.
This service is currently provided to ABSLI’s current clients. ” In a rapidly growing economy like India, where smartphone adoption has been massive, financial services providers must meet their customers wherever they are,” says Ravi Sundararajan, COO of Gupshup.
“We are delighted to assist ABSLI in launching its first-ever end-to-end insurance application and issuance journey on WhatsApp, giving Indians personalized access to the financial services they require,” adds the COO of Gupshup.
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