Aditya Birla Sun Life AMC slides as Q1 PAT declines 33% YoY

Aditya Birla Sun Life AMC declined 1.75% to Rs 412.25 after the company's consolidated net profit fell 33.6% to Rs 102.84 crore on 18.6% decline in total income to Rs 273.70 crore in Q1 FY23 over Q1 FY22.

Aditya Birla Sun Life AMC is primarily the investment manager of Aditya Birla Sun Life Mutual Fund. Interest rate and equity market volatility led to Mark-to-Market (MTM) impact on other income, which resulted in 31.6% YoY decline in profit before tax to Rs 140.80 crore in Q1 FY23.

Operating revenue for Q1 FY23 was at Rs 304.5 crore compared with Rs 303.2 crore in Q1 FY22. Operating profit before tax for Q1 FY23 stood at Rs 171.6 crore as against Rs 172.8 crore in Q1 FY22.

As on 30 June 2022, the AMC was the largest non-bank affiliated AMC quarterly average assets under management (QAAUM) of Rs 2,81,500 crore. Total QAAUM including alternate assets stood at Rs 2,92,600 crore for the quarter ending 30 June 2022.

Equity mutual fund QAAUM increased by 14% YoY to Rs 1,16,800 crore in Q1 FY23. Equity MF mix is at 41.5% for Q1 FY23.

Individual monthly average assets under management (MAAUM) stood at Rs 1,31,500 crore for June 2022. The individual mix is at 48.2% of the total AUM.

The AMC serviced 8.1 million folios and added around 2,02,000 new folios in the quarter ended 30 June 2022.

For Q1 FY23, the company registered around 2,77,000 new Systematic Investment Plan (including Systematic Transfer Planner), an increase of 23% YoY.

Aditya Birla Sun Life AMC (ABSLAMC) is a joint venture between Aditya Birla Capital and Sun Life (India) AMC Investments Inc. Apart from being 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.

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