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Aditya Birla AMC Profit Soars 12% on Strong Inflows
21 Jul
Summary
- Net profit increased 12% to ₹309 crore in the June quarter.
- Average assets under management grew 6% to ₹4.28 lakh crore.
- Passive fund AUM experienced a more than two-fold increase.
Aditya Birla Sun Life Asset Management announced a significant 12% rise in its net profit for the June quarter, amounting to ₹309 crore compared to ₹277 crore in the previous year. This positive financial performance was bolstered by consistent inflows into its managed funds.
The company's revenue saw a 3% increase, reaching ₹462 crore from ₹447 crore in the same period last year. Other income also showed substantial growth, up 37% to ₹162 crore.
Average assets under management for the mutual fund business climbed 6% to ₹4.28 lakh crore during the quarter. Equity AUM grew 10% to ₹1.99 lakh crore, while fixed income AUM increased by 3% to ₹2.90 lakh crore.
A standout performance was observed in passive fund AUM, which more than doubled to ₹1.23 lakh crore from ₹5,300 crore. Assets managed under PMS and alternate investment funds also saw a substantial increase, growing over five times to ₹1.94 lakh crore.
While SIP contributions experienced a marginal decrease to ₹1,085 crore, the number of contributing SIP accounts rose to 40.3 lakh. The company's shares were trading down 7% at ₹1,043 per share.
