Aditya Birla Financial Services Q3 net profit at Rs 151 crore

Posted By: Pti
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Mumbai, Feb 21 (PTI) Aditya Birla Financial Servicestoday reported a net profit of Rs 151 crore for the quarterended December 31, 2010.

The company had reported a net loss of Rs 119 crore forthe corresponding October-December period last year.

Amid subdued Ulip sales, consolidated revenues of thecompany were lower at Rs 1,460 crore during the quarter,against Rs 1,616 crore in the year-ago period.

The company believes this phase will pass and themedium-to-long-term growth opportunity for the sector remainsintact," a release issued here said.

The combined Assets Under Management for Birla Sun LifeInsurance (BSLI), Birla Sun Life Asset Management (BSLAMC) andAditya Birla Private Equity (ABPE) was over Rs 81,500 crore,the release said.

The average book size of Aditya Birla Finance, the NBFCarm, surged 90 per cent quarter-on-quarter to Rs 2,150 crore.

It disbursed loans of around Rs 4,700 crore towards IPOfinancing alone during the quarter, it said.

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