Aditya Birla Sun Life AMC (ABSLAMC) Q4 10/11 earnings summary

Executive summary

• FY11 total income reached ₹3.871bn; profit after tax rose to ₹845.4m and basic/diluted EPS to ₹46.97.

• Auditors concluded the financial statements gave a true and fair view and complied with applicable accounting standards.

Financial highlights

• Total income ₹3.871bn vs ₹3.131bn in FY10; management and advisory fees ₹3.139bn, portfolio management fees ₹89.7m, and real estate fund management fees ₹430.1m.

• Profit before tax ₹1.262bn vs ₹726.1m; profit after tax ₹845.4m vs ₹484.5m.

• Personnel costs ₹1.007bn, administrative and other expenses ₹623.6m, and distribution and scheme expenses ₹833.4m.

• Investment income ₹82.6m and other income ₹129.9m; other income included ₹75.0m interest on intercorporate deposits and ₹19.2m provisions written back.

Segment performance

• Operations comprised asset management and portfolio management services; risks and rewards were assessed as similar, with reporting treated as one asset management services segment.

• Asset management fees from India Advantage Fund were ₹16.5m; foreign-currency management and advisory fees were ₹77.7m.