ICICI Prudential Asset Management Company (ICICIAMC) Q4 20/21 earnings summary

Executive summary

• FY2021 total income was ₹22,337.6 million versus ₹20,068.2 million; profit for the year was ₹12,453.7 million versus ₹10,459.0 million.

• Average mutual fund AUM was ₹4,054.06 billion at March 31, 2021; operations continued remotely during lockdowns, supported by digital infrastructure.

Financial highlights

• Revenue from operations was ₹22,298.7 million versus ₹20,054.4 million; fees and commission income was ₹20,046.0 million versus ₹19,790.7 million.

• Profit before tax was ₹16,577.8 million versus ₹14,116.4 million; tax expense was ₹4,124.1 million versus ₹3,657.4 million.

• Net gain on fair value changes was ₹2,160.4 million versus ₹205.2 million, including ₹1,411.8 million of unrealised fair-value gains.

• Total expenses were ₹5,759.8 million versus ₹5,951.8 million; total comprehensive income was ₹12,467.0 million versus ₹10,438.2 million.

Outlook and guidance

• Management assessed liquidity for the next year and asset and receivable recoverability at year-end, concluding COVID-19 required no material financial-statement adjustment; pandemic effects remain dependent on future intensity, spread and duration.

• Operations continued as an essential service through lockdowns; management said it would monitor the pandemic for material business impacts.