Setting the tone for a strong performance in the current fiscal, the Aditya Birla Financial Services Group recorded robust growth in profitability while revenues registered a modest growth of 4% in the first quarter of 2011 – 2012.
Its combined Assets Under Management (AUM) for BSLAMC, BSLI and ABPE at the end of Q1 FY12 was Rs 92,259 crore v/s Rs 89,395 crore in Q1 FY11.
PBT increased by 2.5 times from Rs 78 crore in Q1FY11 to Rs 177 crore in Q1 of the current fiscal.
Commenting on ABFSG’S Q1FY11-12 performance, Ajay Srinivasan, Chief Executive – Financial Services, Aditya Birla Group said, “The results reflect a strong start to the new financial year and endorse the success of our business strategy of pursuing balanced growth. The quarter saw our businesses continuing to build on efficiencies, distribution reach and product innovation”. He further added “Even in an environment of considerable uncertainty and challenges, the business has delivered healthy growth”.
| Quarter 1 | ||
| Consolidated | FY2011-12 | FY2010-11 |
| Revenue (Rs cr) | 1,330 | 1,283 |
| PBT (Rs cr) | 177 | 78 |
| AUM (Rs cr) | 92,259 | 89,395 |
Birla Sun Life Insurance
• BSLI achieved a PBT of Rs 144 crore in Q1FY12, vis-a-vis Rs 9 crore in Q1 of the previous year. This was primarily driven by the growing size of in-force book, balanced product mix, lower new business strain and better expense management.
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• While the private sector’s weighted new business premium de-grew by 39% in Q1, BSLI reported the 2nd lowest de-growth among the top 7 private life insureRs Its market share among private players increased from 8.1% in Q1 FY 11 to 8.8% for Q1 FY 12.
• The company’s gross premium income grew by 4% to Rs 1183 crore
i. The new business premium income was Rs 322 crore
ii. The non ULIP portfolio strengthened, contributing to 47% of individual new business, vis-a-vis 8% in Q1 last year
iii. Driven by strong persistency, the renewal premium surged by 29% to Rs 860 crore
iv. The 13th month premium persistency ratio stood at 83%, as on 30th June 2011
• BSLI’s AUM scaled up by 19% this fiscal, over Q1FY11 to Rs 19,984 crore
• There was no requirement for capital infusion during the quarter
Birla Sun Life Mutual Fund
• The company posted revenue of Rs 85 crore and a PBT of Rs 30 crore
• The total average AUM (AAUM) grew quarter on quarter by 6% to Rs 71,394 crore
• It ranks 5th in the industry, with a market share of 9.1% in terms of domestic AAUM
• Garnered 18% share in industry’s net equity sales during the quarter
• It has highest number of funds in the 5 star category reflecting its philosophy of delivering superior investment performance, consistently
Aditya Birla Money
• Retail market share of Aditya Birla Money in cash segment enhanced quarter on quarter. Market share in commodities segment has also increased
• Commencement of Currency trading
Aditya Birla Money Mart
• Aditya Birla Money Mart is ranked as the 4th largest corporate distributor in terms of Assets Under Advice (AUA), as on 30th June, 2011 (Source: CAMS report)
Aditya Birla Private Equity
Fund I:
• Rs 198 Crore of the corpus is deployed in 4 companies: GEI Industrial Systems, Credit Analysis & Research (CARE), Anupam Industries and Bombay Stock Exchange, (BSE) all of which are performing well
• ABPE has a strong pipeline of deals across industries and will continue investing
Sunrise Fund:
• ABPE’s second fund launched in Q4 FY11, to provide investors the opportunity to benefit from the growth in sunrise sectors is receiving encouraging response from investoRs
• ABPE expects to announce the First Closing for subscription in Q2 FY12.
Aditya Birla Finance Limited
• The closing book size of ABFL, the NBFC arm, grew year-on-year by 77% to around ' 1,975 Crore
• Revenues more than doubled to Rs 60 crore, in line with the growth in book size
• Profit before tax at Rs 10 crore, remained flat year on year due to increase in costs
Aditya Birla Insurance Brokers
• The Operational Income during the period ended 30th June 2011 at Rs9.46 Crore remained flat year on year
• Profit before tax during period ended 30th June 2011 is Rs 4.22 Crore