ABCL net rises 2.6% to Rs 675 crore on lending growth
The company's lending portfolio, covering both NBFC and housing finance, expanded 30% over the year and 5% sequentially to Rs 1,65,832 crore. Standalone lending assets rose 20.1% to Rs 1,36,422.6 crore. Operating expenses increased 12.5% to Rs 3,133.8 crore, while provisions on financial instruments were up 8.6% at Rs 399.2 crore.
Asset quality showed mixed trends. Gross stage 3 assets increased 6.7%, while net stage 3 assets rose 24%, pointing to a need for tighter monitoring despite the overall growth in business.
Segment-wise, the NBFC business recorded an 18% increase in disbursements, and its AUM grew 22% to Rs 1,31,227 crore. Housing finance disbursements jumped 76%, with AUM rising 70% year-on-year. Profit before tax in this segment surged 82% to Rs 154 crore.
The mutual fund business saw average AUM rise 14% year-on-year to Rs 4,03,479 crore. Equity AUM grew 11% to Rs 1,80,184 crore. The life insurance arm reported a 23% increase in individual first-year premiums to Rs 795 crore, while the health insurance segment recorded a 30% rise in gross written premium to Rs 1,357 crore, along with an improved combined ratio.
The firm's digital push continued to gain traction. Its direct-to-customer platform ABCD onboarded around 6.4 million customers. The Udyog Plus B2B platform logged over 2.4 million registrations, with an AUM of Rs 3,658 crore. The company added 67 new branches during the quarter, taking its total network to 1,690, with a continued focus on tier 3 and 4 locations.
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