Aditya Birla Capital Invests ₹2.50 Billion In Housing Finance Arm

Aditya Birla Capital Ltd. on Friday said it has invested ₹2.50 billion on a rights basis in the equity shares of its wholly-owned subsidiary, Aditya Birla Housing Finance Ltd., to support growth and strengthen its leverage ratio. The shares were allotted the same day, the company said in an exchange filing.

For the March quarter, Aditya Birla Capital posted a 22% rise in consolidated net profit to ₹8.65 billion from ₹7.08 billion in the previous quarter, driven by strong growth in life insurance income and steady fee earnings. Gains in fair value also supported the company’s bottom line. However, the profit was down nearly 31% from ₹12.45 billion a year ago.