Aditya Birla Sun Life AMC Reports Record Quarterly Profit

Aditya Birla Sun Life AMC reported a 28% increase in quarterly profit after tax, reaching Rs 235.7 crore for the quarter ending in June 2024. Revenue from operations rose by 24% to Rs 386.6 crore. The company's assets under management grew by 19% year-on-year to Rs 3.52 lakh crore.

Aditya Birla Sun Life AMC on Wednesday reported a remarkable 28 per cent rise in profit after tax, reaching Rs 235.7 crore, marking the company's highest quarterly gain for the three months ended June 2024.

The asset management firm, part of Aditya Birla Capital, had reported a profit after tax (PAT) of Rs 184.6 crore in the same quarter of the preceding fiscal, according to its stock exchange filing.

The firm's revenue from operations surged by 24 per cent, raising it to Rs 386.6 crore in the quarter under review from Rs 311.2 crore in the April-June quarter of the previous fiscal year.

In terms of assets under management, ABSL AMC reported a 19 per cent year-on-year increase, standing at Rs 3.52 lakh crore at the end of June 2024.

Founded in 1994, the company is co-owned by Aditya Birla Capital and Sun Life (India) AMC Investments Inc. As one of India's leading asset managers, it serves around 9.4 million investor accounts with a pan-India presence in over 300 locations.

(With inputs from agencies.)