ICICI Prudential Asset Management Company (ICICIAMC) Q4 18/19 earnings summary

Executive summary

• FY2019 total income rose to ₹20,043.2 million from ₹18,957.9 million; profit for the year increased to ₹6,830.8 million from ₹6,137.9 million. Average AUM was ₹3,207.93 billion.

• Operations spanned mutual fund management and advisory, portfolio management, and alternatives; 201 offices served customers and headcount reached 2,061 at March 31, 2019.

Financial highlights

• Revenue from operations was ₹20,029.5 million versus ₹18,870.6 million; fees and commission income was ₹19,346.2 million versus ₹18,193.9 million.

• Profit before tax was ₹10,487.5 million versus ₹9,366.9 million; tax expense was ₹3,656.7 million versus ₹3,229.0 million; net profit was ₹6,830.8 million versus ₹6,137.9 million.

• Total expenses declined to ₹9,555.7 million from ₹9,591.0 million; fund expense, brokerage and incentives fell to ₹3,856.4 million from ₹5,408.5 million.

• Operating cash flow was ₹7,106.7 million, up from ₹5,072.3 million; cash and cash equivalents ended FY2019 at ₹48.3 million versus ₹104.3 million.

Segment performance

• Fund Management and Advisory revenue was ₹18,384.0 million versus ₹16,761.3 million; segment operating income was ₹10,944.3 million versus ₹9,322.8 million.

• Portfolio Management and others revenue was ₹1,013.4 million versus ₹1,543.4 million; segment operating income was ₹270.5 million.

• Portfolio management services covered 4,512 clients at March 31, 2019; revenue included ₹988.8 million in portfolio management fees and ₹530.0 million in advisory fees.