ICICI Prudential AMC net profit up 6% on rise in AUM
SIP inflows dip 3 per cent at ₹4,672 crore; Company declares dividend of ₹30 a share
ICICI Prudential Asset Management Company reported a 6% increase in net profit for the September quarter to ₹889 crore, compared to ₹838 crore in the same period last year. This growth was driven by a 14% rise in average assets under management (AUM) to ₹11.61 lakh crore. Revenue surged 16% to ₹1,674 crore, while other income saw a significant decline of 76% to Rs 169 crore, primarily due to mark-to-market valuations on treasury investments and surplus cash deployments.
Overall expenses rose to ₹493 crore, with employees' benefits up 15% and fees and commission paid increasing by 32%. The quarterly average AUM increased by 14% to ₹9.59 lakh crore, and active AUM jumped 11% to ₹8.63 lakh crore. Inflows through Systematic Investment Plan (SIP) declined 3% to ₹4,672 crore, as many investors paused their SIP due to negative returns.
Equity AUM increased by 16% to ₹6.59 lakh crore, while that of equity hybrid grew by 20% to ₹2.29 lakh crore. Debt fund assets dropped by 9% to ₹1.81 lakh crore, while liquid assets rose by 21% to ₹798 crore. The asset under Specialised Investment Fund was at ₹4,948 crore, and under Portfolio Management Services, it was up to ₹30,700 crore. The fund house declared an interim dividend of ₹30 per equity share.
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