Aditya Birla Money FY'10 PBT at Rs 20.5 crore

MUMBAI: Aditya Birla Money (ABM), the retail broking arm of the Aditya Birla Financial Services Group (ABFSG), on Friday said it has clocked a 1,016 per cent jump in its profit before tax at Rs 20.5 crore in the 2009-10 fiscal.

In FY'09, the firm had earned a profit before tax (PBT) of Rs 2.04 crore in the year-ago period.

Aditya Birla Money Ltd (formerly known as Apollo Sindhoori Capital Investments) was acquired by Aditya Birla Nuvo in March 2009 and has since then, witnessed positive changes leading to profitable growth, a statement issued by the company in Mumbai said.

Under the umbrella of ABFSG, the firm has focused on various measures like improvement of processes, introduction of new products and cost rationalisation.

"This has resulted in the growth of revenues and profit, an increase in customer-base as well as operational efficiencies," it said.

Commenting on the results, Kanwar Vivek, MD of Aditya Birla Money and CEO, Aditya Birla Money Mart said, "we have seen a lot of positive changes in the company this year. Since the acquisition, the company has been rebranded as Aditya Birla Money and achieved an immense growth in revenue, market share and its customer base."

"Of course, for us the journey has just started and this year we will continue to focus on customer needs as well as our people, products and processes to support the growth we have planned," he said.