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Aditya Birla Financial Services on Monday reported a net profit of Rs 151 crore for the quarter ended December 31, 2010.
The company had reported a net loss of Rs 119 crore for the corresponding October-December period last year.
Amid subdued Ulip sales, consolidated revenues of the company were lower at Rs 1,460 crore during the quarter, against Rs 1,616 crore in the year-ago period.
The company believes this phase will pass and the medium- to long-term growth opportunity for the sector remains intact,” a release issued here said.
The average book size of Aditya Birla Finance, the NBFC arm, surged 90 per cent quarter-on-quarter to Rs 2,150 crore.
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