Aditya Birla Sun Life AMC (ABSLAMC) Q4 09/10 earnings summary

Executive summary

• FY10 total income was Rs 3,131.1m and profit after tax was Rs 484.5m; reported EPS rose to Rs 26.92 from Rs 5.15 in FY09.

• Auditors issued a true-and-fair opinion and reported compliance with applicable accounting standards; their annexure also cited accumulated losses and cash losses during the year.

Financial highlights

• Total income increased to Rs 3,131.1m from Rs 1,955.0m; management and advisory fees were Rs 2,835.2m versus Rs 1,732.1m.

• Profit before tax was Rs 726.1m, up from Rs 161.1m; profit after tax was Rs 484.5m versus Rs 92.7m.

• Total expenditure rose to Rs 2,258.0m from Rs 1,677.7m; personnel costs were Rs 807.6m, administrative expenses Rs 633.1m and scheme expenses Rs 775.5m.

• Other income was Rs 134.4m, including Rs 53.1m of unspent liabilities/provisions written back; investment income was Rs 69.8m.

Segment performance

• Operations were classified as a single asset management services segment, covering asset management and portfolio management services.