Aditya Birla Sun Life Q4 PAT climbs 54% YoY to Rs 208 crore

The asset management company's consolidated net profit jumps 53.71% to Rs 208.38 crore on 23.1% rise in revenue from operations to Rs 365.57 crore in Q4 FY24 over Q4 FY23.

Total income stood at Rs 440.02 crore in the quarter ended 31 March 2024, registering a growth of 33.68% year on year (YoY).

Profit before tax stood at Rs 267.57 crore in Q4 FY24, up 47.87% from Rs 180.95 crore recorded in the corresponding quarter last year.

Aditya Birla Sun Life AMCs (ABSLAMC) overall quarterly average assets under management (QAAUM) including alternate assets grew 21% YoY to Rs 3,45,800 crore for the quarter ending 31 March 2024. The companys mutual fund QAAUM also witnessed a growth of 21% YoY to Rs 3,31,700 crore.

Equity mutual fund QAAUM increased by 31% YoY to Rs 1,52,000 crore in Q4 FY23. Equity mutual fund mix increased to 46% Q4 FY24 from 42% in Q4 FY23.

Individual monthly AAUM stood at Rs 1,73,200 crore for March 2024, up 23% YoY. Individual mix was at 52% of mutual fund AUM.

The firm registered around 5,96,400 new systematic investment plans (including STP) for Q4 FY23, recording a growth of 125% .

On full year basis, the company's consolidated net profit grew 30.85% to Rs 780.36 crore on 21.19% rise in total income to Rs 1,640.58 crore in FY24 over FY23.

ABSL AMC serviced 8.59 million folios as of 31 March 2024 and added around 1.1 million new folios for year ending 31 March 2024.

Monthly systematic inflows (including STP) witnessed growth of 25% YoY to Rs 1,252 crore for March 2024 with 3.58 million accounts.

Meanwhile, the company's board has recommended a final dividend of Rs 13.50 per equity share for the financial year ended 31 March 2024, subject to the approval of shareholders. The dividend, if approved, will be paid within 30 days from the conclusion of AGM. Record date for the said dividend will be intimated in due course.

Aditya Birla Sun Life AMC is co-owned and backed by Aditya Birla Capital and Sun Life (India) AMC Investments Inc. ABSLAMC is primarily the investment manager of Aditya Birla Sun Life Mutual Fund. It also operates multiple alternate strategies including portfolio management services, real estate investments and alternative investment funds.

Shares of Aditya Birla Sun Life AMC declined 0.87% to end at Rs 554.75 on Friday, 26 April 2024.

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