Aditya Birla Sun Life AMC (ABSLAMC) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 revenue from operations rose 30% year-over-year to INR 443 crores (Rs. 4.5 billion), with operating profit up 42% to INR 262 crores (Rs. 2.6 billion), and profit before tax up 14% to Rs. 3.0 billion.

• Mutual fund average AUM grew 23% year-over-year to INR 384,000 crores (Rs. 3,839 billion); equity AUM up 32% to INR 179,000 crores (Rs. 1,795 billion); equity mix rose to 47% from 44% last year.

• SIP book increased 38% year-over-year, with 670,000 new SIPs added and total investor folios crossing 1.05 crore (10.5 million) as of December 31, 2024.

• Alternate assets (PMS, AIF) AUM grew 44% year-over-year to INR 3,853 crores (Rs. 38 billion); offshore business AUM up 28% to INR 12,686 crores (Rs. 127 billion).

• Industry-wide mutual fund AUM reached a record 68 lakh crores, up 39% year-over-year.

Financial highlights

• Q3 FY25 revenue from operations: INR 443 crores (Rs. 4.5 billion, up 30% YoY); operating profit: INR 262 crores (Rs. 2.6 billion, up 42% YoY); profit before tax: Rs. 3.0 billion (up 14% YoY); profit after tax: Rs. 2.2 billion (up 7% YoY).

• Nine-month revenue: INR 1,256 crores (Rs. 12.6 billion, up 27% YoY); nine-month operating profit: INR 710 crores (Rs. 7.1 billion, up 35% YoY); profit before tax: Rs. 9.4 billion (up 27% YoY); profit after tax: Rs. 7.0 billion (up 23% YoY).

• Non-mutual fund revenue for the quarter: INR 34-35 crores; ESOP expense: INR 28 lakh.

• Total equity as of December 31, 2024: Rs. 34.98 billion; total assets: Rs. 38.96 billion.

Outlook and guidance

• Expectation of continued volatility in Q1 FY25 until global policy clarity emerges.

• India projected to maintain strong GDP growth at 6.5% in 2025, with positive economic outlook.

• Focus on expanding geographic reach, strengthening multi-channel distribution, and scaling retail franchise.

• Accelerated growth targeted in passive and alternative investments, leveraging digital platforms for service delivery.

• Alternate business (PMS, AIF, offshore, passive) targeted to grow faster than mutual funds, aiming for INR 20,000 crores in PMS/AIF and INR 100,000 crores in passive AUM over 3-5 years.