Aditya Birla Sun Life AMC (ABSLAMC) Q4 13/14 earnings summary

Executive summary

• FY14 profit after tax rose to ₹1,056.4m from ₹873.1m; revenue from operations reached ₹4,886.1m from ₹3,963.9m.

• Auditors issued an unqualified opinion, finding the financial statements gave a true and fair view under Indian accounting principles.

Financial highlights

• Total income was ₹5,138.9m vs ₹4,350.5m; profit before tax was ₹1,512.3m vs ₹1,213.7m.

• Total expenses rose to ₹3,626.7m from ₹3,136.8m; scheme expenses were ₹1,802.1m vs ₹1,433.7m.

• Other income fell to ₹252.9m from ₹386.6m, including lower interest income on non-current investments.

• Operating cash flow was ₹1,050.1m vs ₹628.2m; cash and cash equivalents ended at ₹24.3m vs ₹40.7m.

Segment performance

• Operations comprised asset management and portfolio management services; these were treated as one segment, Asset Management Services.

• Management and advisory fees were ₹4,631.9m vs ₹3,712.4m; portfolio management fees were ₹40.4m vs ₹37.6m.

• Real estate fund management fees were ₹213.8m vs ₹213.9m.