Aditya Birla Money declares its Q1 results
22nd July, 2010
Chennai: Aditya Birla Money (ABM), the retail broking arm of the Aditya Birla Financial Services Group (ABFSG) and part of Aditya Birla Nuvo, announced its Q1FY11 results today.
The company has achieved a PBT of Rs.4.51 crores in Q1 FY-11. The company, under the umbrella of ABFSG, has focused on various measures like improvement of processes and introduction of new products that has resulted in the growth of revenues and profit, customer base and operational efficiencies.
Commenting on the results, Mr. Kanwar Vivek, Managing Director, Aditya Birla Money, said, "Since the rebranding exercise, Aditya Birla Money has achieved growth in revenues and customer base. This growth has been steady in Q1. We will continue to focus on expanding our footprints pan-India focusing more on West and South India. We strive to constantly improve our offerings and processes to satisfy customer needs, which we believe is an important enabler for us to achieve our desired growth levels."
Aditya Birla Money is a single brand offering the combined products and services of Aditya Birla Money Limited (formerly Apollo Sindhoori Capital Investments Limited) and Aditya Birla Money Mart Limited (formerly Birla Sun Life Distribution Company Limited). Aditya Birla Money Limited is a broking and distribution player, offering Equity and Derivative trading through NSE and BSE and Currency derivative on MCX-SX. It is registered as Depository Participant with both NSDL and CDSL and also provides commodity trading on MCX and NCDEX through its subsidiary company. Aditya Birla Money will also provide a range of other products from Aditya Birla Money Mart Limited like company deposits, mutual funds, insurance, structured products, alternate investments and has a premier wealth management service arm to cater to HNI customers.
These offerings are delivered through a strong pan India distribution network of over 850 own and sub broker branches, a robust online and offline model with a strong technology backbone to a large customer base, in excess of 4 lakhs. For more information please visit www.adityabirlamoney.com
Aditya Birla Financial Services Group is a broad based and integrated player in the financial services space with a strong presence across verticals viz., life insurance, asset management, retail broking, distribution and wealth management, NBFC, insurance broking and advisory services and private equity. ABFSG is rapidly growing in line with its vision to be a leader and role model in the Indian financial services sector. The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company Limited, Birla Sun Life Asset Management Company Limited, Aditya Birla Money Limited, Aditya Birla Money Mart Limited, Aditya Birla Finance Limited, Birla Insurance Advisory & Broking Services Limited and Aditya Birla Capital Advisors Private Limited. The consolidated revenues from these businesses crossed US$1 billion mark in 2008-09. Today, ABFSG collectively enjoys trust of over 4 million customers, manages assets over US$16 billion and prides itself for having a talent pool of over 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through over 1500 branches and over 2 lakh channel partners.
ABFSG is a part of Aditya Birla Nuvo Limited (ABNL), a US$3.5 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a US$ 30 billion Indian business house operating in 25 countries across the globe.