ICICI Prudential Asset Management Company (ICICIAMC) Q4 17/18 earnings summary

Executive summary

• FY2018 revenue reached ₹18,965.9 million, while profit after tax rose to ₹6,255.5 million from ₹4,804.7 million in FY2017.

• Average AUM was ₹3,057 billion; the distribution network comprised 187 offices, and year-end headcount was 1,913 versus 1,476 a year earlier.

Financial highlights

• Revenue from operations was ₹18,186.4 million versus ₹13,008.6 million; other income was ₹779.5 million versus ₹488.7 million.

• Profit before tax was ₹9,491.1 million versus ₹7,346.9 million; profit after tax was ₹6,255.5 million versus ₹4,804.7 million.

• Total expenses rose to ₹9,474.8 million from ₹6,150.4 million; other expenses were ₹7,202.7 million versus ₹4,291.9 million, including brokerage, incentives and mutual fund expenses of ₹5,439.2 million versus ₹2,846.8 million.

• Operating cash flow was ₹5,072.4 million versus ₹6,019.7 million; cash and cash equivalents ended FY2018 at ₹104.3 million versus ₹19.2 million.

Outlook and guidance

• SEBI’s scheme rationalization and categorization circulars will require changes to fund schemes to standardize categories and scheme characteristics.