Aditya Birla Sun Life AMC Q1 Profit Jumps 28% to Rs 236 Cr
Jul 24, 2024 20:09
Aditya Birla Sun Life AMC reported a strong Q1 FY25, with net profit rising 28% to Rs 236 crore. Revenue also grew 24%, driven by higher AUM.
New Delhi, Jul 24 (PTI) Aditya Birla Sun Life AMC on Wednesday reported a 28 per cent rise in profit after tax to Rs 235.7 crore, its highest quarterly gain, for the three months ended June 2024.
The asset management firm, part of Aditya Birla Capital, had posted a profit after tax (PAT) of Rs 184.6 crore in the same quarter of the preceding fiscal, according to a stock exchange filing.
The company's revenue from operations rose 24 per cent to Rs 386.6 crore in the quarter under review from Rs 311.2 crore in the April-June quarter of the preceding fiscal (2023-24).
ABSL AMC's assets under management stood at Rs 3.52 lakh crore at the end of the June 2024 quarter, reflecting a 19 per cent year-on-year growth.
Founded in 1994, ABSL AMC is co-owned by Aditya Birla Capital and Sun Life (India) AMC Investments Inc. It is one of the leading asset managers in India, servicing around 9.4 million investor accounts with a pan-India presence across over 300 locations.
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