Aditya Birla Sun Life AMC's Q4 profit surges 54% to Rs 208 crore

Aditya Birla Sun Life AMC saw a 54% rise in net profit to Rs 208.4 crore in Q1 FY24, with a 34% surge in total income. For FY24, total income grew 21% to Rs 1,640 crore, and net profit increased 31% to Rs 780.36 crore. The company also declared a dividend of Rs 13.50 per share for FY24. ABSL AMC remains a leading asset management company, with Rs 3.32 lakh crore in assets under management as of March 2023.

Aditya Birla Sun Life AMC on Friday reported a 54 per cent increase in net profit to Rs 208.4 crore for three months ended March 2024.

In comparison, the company had posted a net profit of Rs 135.57 crore in the same quarter of the preceding fiscal, the asset management firm said in a filing to the stock exchanges.

Total income surged 34 per cent to Rs 440 crore in the January-March period of FY24 from Rs 329 crore in the year-ago period. The company's board of directors in its meeting recommended a dividend of Rs 13.50 per equity share for FY24.

For the entire FY24, the company's total income stood at Rs 1,640 crore, marking a jump of 21 per cent year-on-year and net profit was at Rs 780.36 crore in 2023-24, an increase of 31 per cent from the preceding fiscal.

ABSL AMC is a leading asset management company in the country with quarterly average assets under management of Rs 3.32 lakh crore as of March this year.

Aditya Birla Sun Life AMC, a joint venture between the Aditya Birla Capital and Sun Life (India) AMC Investments Inc, is primarily the investment manager of Aditya Birla Sun Life Mutual Fund.