Hitting its 52-week high at Rs 188.45 per share on the BSE in Thursday's early morning deals, the shares of Aditya Birla Money surged up to 13.52 percent. This upsurge came after Aditya Birla group company reported a stellar quarterly earnings for Q1FY25.
The company saw a strong 73.48 percent jump in net profit to Rs 16.36 crore in June quarter. With this, it showcased a rise from Rs 9.43 crore in the same quarter of the previous year. Similarly, this was flat down marginally by 0.6 percent. Furthermore, in the December quarter of FY24, the company had reported Rs 16.46 crore net profit.
The company’s Net Interest Income (NII) rose 60.18 per cent at Rs 50.57 crore from Rs 31.57 crore in the same quarter last year. On a quarterly basis, this was up by 2.1 per cent as the company had registered NIIs of Rs 49.53 crore in the previous quarter.
If we look at the company’s total expenses, it rose by 46.90 percent YoY, surmounting to Rs 97.4 crore. In the corresponding quarter of last year, it stood at Rs 66.3 crore. In an exchange filing, the company has also informed that Ashok Suvarna has been appointed as the new Chief Executive Officer and will be effective from September 1 of this year.
Currently, Suvarna is serving as the Chief Distribution Officer at Aditya Birla Sun Life Insurance. He brings to the table an overall experience of around 30 years in sales and operations. Furthermore, the company said that Suvarna has been associated with Aditya Birla Capital since 2008. Survarna also has professional experience across Aditya Birla Sun Life Mutual funds, ICICI Prudential and SBI Funds in the past.
Operating as a registered stock broker with SEBI, Aditya Birla Money is engaged in securities broking and is also a member of both BSE and NSE, wherein, it provides trading services in equities and derivatives through these exchanges.
In addition, the company also holds a Portfolio Management Services (PMS) license from SEBI. Through this, it offers customized portfolio management solutions to its clients. Currently, the share price of the company has risen by over 56 percent year to date, while at the same time rallying 190 percent in the last one year.
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